NASSCOM and the chamber of commerce of IT-BPM industries released a report this month stating that in the 4 years — from 2015 to 2018 — Indian companies filed over 4,600 patents in the US, the majority of which (64.8%) are technology patents.
In a report titled Emerging Technologies: Leading the next wave of IP Creation for India, the share of tech patents in total patents filed in the US increased to two-thirds in 2017-18 from 50% in 2015.
Of the technology patents, the share of emerging technologies has increased consistently to 56.3% in the 2017-18 period from 38.3% in 2015.
Notably, 40% of the tech patents filed by Indian firms have been granted, said the report.
AI leads the emerging technologies patent race both in terms of a total number of patents. From 2015 to 2018, Indian firms filed the following number of patents:
- 330 AI patents
- 193 cybersecurity patents
- 107 IoT patents
- 88 cloud computing patents
- Under AI, machine learning was the leading sub-domain in AI with over 70% share.
NASSCOM President Debjani Ghosh said the report is the first in a series to understand how Indian technology companies are creating IP assets in its largest market. She said in a statement, "As a country, India can further strengthen its potential as an innovation hub through more investments in research and strategic collaborations. We are confident that we will usher in a new wave of innovation and intelligence in the country.
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Prajakta is a Writer/Editor/Social Media diva. Lover of all that is 'quaint', her favourite things include dogs, Starbucks, butter popcorn, Jane Austen novels and neo-noir films. She has previously worked for HuffPost, CNN IBN, The Indian Express and Bose. You can reach her at firstname.lastname@example.org