World Intellectual Property Indicators (WIPI) 2024:
The World Intellectual Property Organization (WIPO) published the World Intellectual Property Indicators (WIPI) 2024, highlighting significant growth in intellectual property filings worldwide.
Key Highlights:
- 15.7% growth in patent applications in 2023, the fastest among the top 20 origins globally.
- India ranked 6th in patent filings with 64,480 applications, over 55% from residents.
- Patent-to-GDP ratio increased from 144 to 381 in a decade.
- India recorded 36.4% growth, driven by sectors like textiles, tools, machines, and health.
- India ranked 4th globally, with a 6.1% rise in trademark filings in 2023
- Health (21.9%), Agriculture (15.3%), and Clothing (12.8%).
- Over 3.2 million active registrations, the 2nd largest globally.
- A record 3.55 million patent applications were filed globally in 2023, marking a 2.7% increase.
- Asia led IP filings, with India, China, South Korea, Japan, and the U.S. driving the growth.
World Intellectual Property Organization (WIPO):
- A specialized UN agency headquartered in Geneva, Switzerland, established in 1967.
- Objective: Ensures that the IP framework evolves with global needs, fostering innovation
