Q&A - A Guide To The India IP Landscape.
India is increasingly being recognised as a global innovator being in the top 50 innovating countries in the World Intellectual Property Organization (WIPO)’s Global Innovation Index (GII). However, The Economic Survey of the Indian Ministry of Finance published in 2021 shows that the majority of patent applications in India come from non-residents. Are you expecting initiatives from the Indian government to boost national R&D efforts?
You are right, the Indian Government is concerned that Indian residents file only 34% of patents, and foreign companies file the rest. The India economic survey of 2021 published by the Ministry of Finance highlighted this fact to explain that self-reliance and economic growth are linked to accelerating innovation. The Economic Survey also highlighted how China through a 15-year “Medium to Long Term Plan (MLP) for the development of Science and Technology” became an “innovation-oriented society". The Indian Government has in the last ten years taken several initiatives to encourage entrepreneurs, start-ups and small to medium enterprises to focus on innovation. A few schemes floated by the Government to promote innovation are listed below: