HomeNewsBusinessStocksIndia will be able to issue 1 lakh patents in a year in the next 18 months’ time: Sanjeev Sanyal

India will be able to issue 1 lakh patents in a year in the next 18 months’ time: Sanjeev Sanyal

Sanyal says that they are in the process of hiring around 500 new patent officers to speed up the process. He also feels process reforms are very important to make the system more efficient.

September 28, 2023 / 15:09 IST
Story continues below Advertisement
.
Based on Sanyal’s working paper documenting the challenges, “processes are not only being changed but there is also hiring of around 500 new patent officers.

India will soon have the capability to issue 1,00,000 patents in a year, says Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister. Till 2016, India used to issue only 9,000 patents a year, but this will change in the next 18 months.

Also read: Shift in household savings from financial to physical savings is not a bad thing: Sanjeev Sanyal

Story continues below Advertisement

India is currently issuing about 35,000 patents. “That's a huge improvement – 9,000 to 35,000. But let me put it in context. America does 350,000 patents a year. And China does about half a million patents a year. Even if you discount the fact that many of the Chinese patents are of poor quality, they're still doing at least 100,000 worth of good-quality patents. In that context, we also need to be doing at least 100,000 patents a year, but we need the capacity of our patent office to do it,” he says.

Based on Sanyal’s working paper documenting the challenges, “processes are not only being changed but there is also hiring of around 500 new patent officers,” he says.