India climbs 35 ranks in Global Innovation Index but lags in patents
In spite of climbing 35 scores in the Worldwide Development File, from 81 out of 2015-16 to 46 of every 2021, India slacks in the quantity of licenses conceded which is as yet a part contrasted with driving world economies, the Monetary Review 2021-22 said.
The vast majority of India's new companies are in the IT/information based area and licensed innovation, explicitly licenses, are vital to this information based economy.
India's positioning in Worldwide Development File has climbed 35 positions which is a "noteworthy advancement, yet the quantity of licenses conceded in India is as yet a portion contrasted with licenses allowed in China, the US, Japan and Korea", as per the Review, postponed in the Parliament on Monday.
The quantity of licenses recorded in India has gone up from 39,400 of every 2010-11 to 45,444 out of 2016-17 to 58,502 out of 2020-21 and the licenses allowed in India has gone up from 7,509 to 9,847 to 28,391 during a similar time span.
Notwithstanding, as per the World Protected innovation Association (WIPO), the quantity of licenses allowed in China, the US, Japan and Korea remained at 5.30 lakh, 3.52 lakh, 1.79 lakh and 1.35 lakh, separately, for 2020, the Financial Overview said.
One of the critical explanations behind generally low licenses in India versus the US, China, and so on is the low use on innovative work (Research and development) exercises, which was 0.7 percent of its Gross domestic product in 2020, bemoaned the Review Archive.
"Be that as it may, this isn't the main explanation. The procedural postponements and intricacy is one more reason for low licenses in India. The typical pendency for ultimate choice in securing licenses in India is 42 months starting around 2020," the Review noted.
This is a lot higher than 20.8, 20, 15.8 and 15 months individually for the US, China, Korea, and Japan.
Be that as it may, the typical pendency for ultimate conclusion in obtaining licenses has diminished in India from 64 months in 2017 to 52 months in 2019 and further to 42 months in 2020.
Furthermore, postpone in India's patent application is likewise because of the low number of patent analysts in India, said the Overview.
The quantity of patent analysts in India in 2020 were 615 rather than 13,704 in China, 8,132 in the US, and 1,666 in Japan.
"This prompts a colossal postpone in getting the Primary Assessment Report (FER) deferring the entire cycle. This was additionally noted by the Parliamentary Standing Panel on Business' Audit of Protected innovation Freedoms System in India (2021)," said the Overview, adding that there is a dire need to expand the quantity of patent analysts.
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