PM-EAC for patent system rejig to quick observe grants

New Delhi: The Financial Advisory Council to PM (EAC-PM) has advised hiring extra patent officers and fixing six months because the interval inside which the validity of a pending patent utility may be challenged.

These measures, the EAC-PM stated in its presentation to stakeholder ministries, together with the Division for Promotion of Business and Inside Commerce (DPIIT) and the NITI Aayog, will assist fast-track the method of granting patents and likewise generate substantial income for the federal government.

India doesn’t have any timeline for pre-grant opposition. This, coupled with scarcity of patent officers, stretches the processing time for granting a patent in India to as a lot as 58 months, in some instances. In distinction, the processing time is 20 months in each China and the US and 15 months in Japan.

“India is quick rising as a knowledge-based financial system. This requires a reliable mental property framework with a quicker processing time,” Sanjeev Sanyal, member of EAC-PM, instructed ET.

In response to Sanyal, a revamped patenting system ought to concentrate on timelines, simplified procedures, scaling up of manpower, and adopting synthetic intelligence to turn out to be globally aggressive.

PM-EAC for Patent System Rejig to Fast-track GrantsBusinesses

The EAC-PM stated there’s a have to clear the 160,000 pending patent functions on the earliest, which might additionally generate large income for the federal government.

In 2021, India granted 30,074 patents from a pool of 66,000 functions, producing income of Rs 1,000 crore. The identical 12 months, the US granted 350,000 patents and China 530,000.

The EAC-PM stated that although there have been enhancements in India’s patenting regime over the previous few years, the nation continues to be far behind another nations within the processing of functions, and this usually prompts even home gamers to hunt patents elsewhere.

Nevertheless, introduction of a timeline for pre-grant opposition would require the DPIIT to tweak the patenting guidelines.

India has solely 858 patent officers. Though it is a leap from 280 in 2016, it’s nonetheless miniscule in contrast with 13,700 in China and eight,130 within the US.

India has additionally seen a surge in home functions, with 44% of them coming from Indian entrepreneurs in 2021 in contrast with 29% in 2016-17, whereas the speed of withdrawal of functions has decreased to 38% in 2022 in contrast with 66% in 2018, primarily on account of delay in granting patents.
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