Nearly 92,000 patent applications filed in India in FY'24: Official

New Delhi: Around 92,000 patent applications were filed in India during the last financial year, signifying India's growing maturity as a hub for technological and scientific development, a top official said on Tuesday.

Unnat Pandit, Controller General of Patents, Designs and Trademarks (CGPDTM), also shared that the intellectual property (IP) guidelines are being revamped and inputs are being sought from various stakeholders for the new norms.

"Around 92,000 patent applications have been filed in the last financial year, that means every six minutes one new technology is seeking IP protection in India," Pandit said on the sidelines of an Assocham event here.

"We are revamping the IP guidelines which were formed for the protection of IP in different sectors. This exercise is going on, a contribution can be made by industry associations also and the IP stake-holders for further strengthening the impact of such guidelines," he added.

Pandit highlighted the need to create an IP system which is vibrant.

"We are working towards efficient IP filings. This rapid growth in granted patents underscores the efficiency of India's patent office in processing applications and granting IP rights. It also reflects the rising quality of applications being filed, with many innovations meeting global standards," he said.