china: Low R&D spend one of the reasons why India lags behind China, US in patents: Economic Survey
The survey added that the number of patents granted in India is a fraction of what is granted in China, US, Japan.
The other reasons for a low patent regime in India is “procedural delays and complexity of the process”.
“The average pendency for final decision in acquiring patents in India is 42 months as of 2020. This is much higher than 20.8, 20, 15.8 and 15 months respectively for USA, China, Korea and Japan.”
However, the silver lining is that an increasing number of Indian residents are now applying for patents as against the multi-national companies (MNC) despite the odds.
According to the Survey, the number of patents application are increasingly coming from Indian residents rather than MNCs.
The share of Indian residents in total applications has increased from 20 per cent in 2010-11 to around 30 per cent in 2016-17 and 40 per cent in 2020-21.
Consequently, India’s ranking in Global Innovation Index has climbed 35 ranks, from 81st in 2015-16 to 46th in 2021.
(With inputs from IANS)
