PM Modi made the remarks while referring to a recent report published by the World Intellectual Property Organization (WIPO).
Prime Minister Narendra Modi (File Photo)
Prime Minister Narendra Modi on Wednesday said the rise in patent applications demonstrates the rising innovative zeal of the youth of the country.
He said it is a positive sign for the times to come.
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He made the remarks while referring to a recent report published by the World Intellectual Property Organization (WIPO).
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“The rise in patent applications in India demonstrates the rising innovative zeal of our youth and is a very positive sign for the times to come,” Modi wrote on X and also shared the report.
The report claimed that global patenting activity soared to new records in 2022, fueled by Indian and Chinese innovators.
“While innovators from China continue to file nearly half of all global patent applications, the country’s growth rate dipped for the second consecutive year from 6.8 per cent in 2021 to 3.1 per cent in 2022. Meantime, patent applications by residents of India grew by 31.6 per cent in 2022, extending an 11-year run of growth unmatched by any other country among the top 10 filers,” the report said.
China, the United States, Japan, Republic of Korea and Germany were the countries with the highest numbers of patent filings in 2022, it claimed.
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