According to World Intellectual Property Indicators 2018 report released by United Nation’s World Intellectual Property Organisation (WIPO), the number of patents granted by India shot up by 50% in 2017. The patents granted by India increased from 8,248 in 2016 to 12,387 in 2017, thus keeping uptrend of steep increases.
Patents granted in 2017 in India were more than double 6,022 patents granted in 2015. Of the patents granted in 2017, 1,712 went to entities and individuals based in India, and 10,675 to foreigners. The steep increase in number was driven by patents granted to foreigners, which accounted for 85% of the total increase. The number of patients given to domestic entities also has shown an increasing trend.
It is the global body for promotion and protection of intellectual property rights (IPR). It is one of the 15 specialized agencies of the United Nations (UN). It was established in 1967 and is headquartered in Geneva, Switzerland. Its mandate is to encourage creative activity, to promote the protection of intellectual property throughout the world.