New Delhi, April 26 -- India granted a record 1.03 lakh (103,000) patents in the financial year 2023-24, the Controller General of Patents, Designs and Trademarks, Unnat Pandit, announced on Thursday.
Pandit assured that there will be no delay in clearing patent applications going forward as the Intellectual Property (IP) Office prioritises timely clearance.
Speaking at an Assocham event, Pandit revealed that 40 per cent of patent applications were disposed of within 30 months of requesting examination.
We are going to have no delay in the IP office. IP should be granted and under Chapter 8 of the Act it should also be utilised by the applicant, that will generate the economic value of IP, he stated, reported ET.
Pandit emphasised ...