India's Intellectual Property Surge: A Global Perspective

India is advancing its intellectual property ecosystem, becoming the world's sixth largest in trademark filings. Commerce Minister Piyush Goyal highlighted the need to accelerate trademark and copyright processes, and emphasized the increase in patent enthusiasm and timely grants to enhance protection against infringements.

India is making significant strides in its intellectual property landscape, as revealed by Commerce and Industry Minister Piyush Goyal on Wednesday. Speaking at the National Intellectual Property (IPR) awards, Goyal noted that India's trademark filings rank sixth globally, underscoring the nation's growing prowess in the field.

The minister emphasized that the country granted around 100,000 patents last year, with confidence surging among individuals as patent resolutions are expedited. This momentum is further catalyzing the trend of patent filings, as entrepreneurs and innovators seek protection for their inventions within India.

However, Goyal pointed out that challenges remain in the trademark and copyright sectors, calling for faster processing times. Efforts are ongoing to enhance enforcement and safeguarding mechanisms, aiming to shield intellectual property owners from illegitimate activities and strengthening the IPR ecosystem overall.

(With inputs from agencies.)