Patent filings increase 25%, 75,000 applications pending

The patent office has reported a significant rise in patent filings, increasing by 25%. Currently, there are 75,000 patent applications under review. The processing time for patents is now down to six months. Ashish Prabhat, Assistant Controller of Patents & Designs, shared this information during the second national intellectual property (IP) yatra in Pune. The event aims to link innovative entrepreneurs with industries to enhance the commercialization of intellectual property. Over the past year, the department has engaged with over one million young innovators. Abhay Dhaptadar, a Cluster Development Officer, pointed out the need for startups to have proper guidance, financial support, and protection for their intellectual property to succeed. The event also featured notable officials from various industries. Arihant Mehta, President of Pinnacle Industries, emphasized that India's economic growth presents numerous opportunities for the MSME sector. Both domestic and foreign companies are seeking chances to collaborate. The IP yatra included discussions on international IPR filing, technology transfer, and the commercialization of innovations. It attracted more than 120 participants from industry, academia, and other professional areas.