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India Ceases to be Second-Fastest Growing Innovator Among Major Asian Countries



As India’s patent publication has doubled in just a decade. India ceases to be the second fastest growing innovator, while the first is China. India is fourth among the major Asian countries in terms of overall patent publication volume, and second in terms of growth rate, said the "India Innovation Report" by Philadelphia-headquartered Clarivate Analytics. That the research further showed that Patent activity in India is growing at a compounded annual growth rate (CAGR) of 10.8 per cent in patenting activity over the past five years due to healthy government support, eventually India is second only to China which is growing at a CAGR of 15.5 per cent, among the top Asian countries. 

In an interview Arvind Pachhapur, Vice President, Clarivate Analytics, stated that "In the past two years, the most significant growth stems from India's top four technology categories, computing, polymers and plastics, communications, and pharmaceuticals, demonstrating an increase in convergence of technologies with computing and communications at the core of several industries,". The research analysis is based on patent data derived from Derwent Innovation, a patent research application that provides access to patent intelligence and scientific literature across the globe. The top patent filing organizations in the country are an equal mix in numbers comprising of resident (Indian origin) and non-resident companies. Whereas some of the top resident organizations are Council for Scientific & Industrial Research (CSIR), Tata Consultancy Services (TCS), Reliance Industries Limited (RIL), Cadila Healthcare and Hindustan Aeronautics Limited (HAL), the report said. Whereas there are a few of the top non-resident patent filing organizations which include Samsung, Huawei, General Electric and Ericsson, the report included. The top 10 technology categories identified in priority Indian patent publications from 2015 to 2017 are Computing, Polymers & Plastics, Communications, Pharmaceuticals, Electric Power Engineering, Food, Water & Disinfectants, Chemical Engineering, General & Agro-Chemicals, Instrumentation, Test & Measurement, Automotive and Semiconductors & Electronics. In the first quarter of 2018, the number of priority patents published in India has shown a growth of 32.8% over the number of priority patents published in Q1 of 2017. In the first quarter of 2018, the number of priority patents published in India has shown a growth of 32.8% over the number of priority patents published in Q1 of 2017.

 

By: Anuja Arora

Content: https://economictimes.indiatimes.com/news/economy/indicators/india-second-fastest-growing-innovator-among-major-asian-countries-report/articleshow/66748430.cms

 


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