If each Indian start-up is encouraged to file and secure at least one patent, that can prove to be a big leap from current status. Discuss (200 Words)
Refer - Financial Express
Enrich the answer from other sources, if the question demands.
IAS Parliament 3 years
KEY POINTS
· The Economic Survey 2021-22 indicates that the number of new recognised start-ups has increased to over 14,000 in 2021-22, from only 733 in 2016-17.
· The number of IP patents filed in India increased 30% in the past five years. This, in turn, has boosted India’s ranking in the ‘Global Innovation Index’, taking it from 81 in 2015-16 to 46 in 2021.
· The Economic Survey has mentioned with concern the huge gap in patents-filing between India and other countries and attributed it to the low expenditure on research and development (R&D).
· The R&D spends in India were a mere 0.7% of the country’s GDP in 2020.
· According to the Survey, the average time taken for a decision to grant patents in India in 2020 was 42 months, compared to 52 months (2019) and 64 months (2017).
· Many global tech majors have some of their R&D bases in India. Yet, to fast-track their patent filings, many of them register their patent filings outside of India.
· By bringing awareness and literacy about intellectual property rights at the middle and high school level, we can generate more awareness.
· Hopefully, it can use the philosophy of trust-based governance that was announced in the Union Budget FY23, and bring reforms to fast-track the patent process.
Shiva 3 years
Please Review.
IAS Parliament 3 years
Good attempt. Keep Writing.
Manish 3 years
IAS Parliament 3 years
Good attempt. Keep Writing.
