World Intellectual Property Indicators (WIPI) report

• World Intellectual Property Organisation (WIPO) recently released its annual World Intellectual Property Indicators (WIPI) report.

MAJOR FINDINGS

• In 2022, global patenting activity surged to a new record high, getting fillip by Indian and Chinese innovators as well as powered by increased levels of innovation, entrepreneurship and digitalisation in these countries.
• As per the report, innovators from around the world submitted 3.5 million patent applications in 2022, marking a third consecutive year of growth.
• Asia accounted for 9 per cent, 67.8 per cent and 70.3 per cent of global patent, trademarks and industrial designs filing activity in 2022.
  • The largest rise in filings was reported from India.
• The largest number of patents globally was in computer technology (11.1%), followed by electrical machinery (6.4%), measurement (5.8%), medical technology (5.2%) and digital communication (4.9%).

INDIA SPECIFIC

• Patent applications by residents of India grew by 31.6% in 2022, extending an 11-year run of growth unmatched by any other country among the top 10 filers.
• For the first time, there were more patents filed by Indian residents as against foreign filers, indicating at the country’s fast growing innovation ecosystem.
• In absolute terms, India accounts for the sixth largest number of patent applications globally.
  • China is by far the largest followed by the US, Japan, South Korea and European Union.

ABOUT WORLD INTELLECTUAL PROPERTY ORGANISATION (WIPO)

• The World Intellectual Property Organisation or WIPO is a global body for the promotion and protection of Intellectual Property Rights (IPR).
• It serves as a global forum for information, cooperation, policy, and services related to intellectual property (IP).
• Headquarters- Geneva, Switzerland
• It is a self-funding agency of the United Nations having 193 member states.
  • India became a member in 1975.