India: Asia's second fastest growing innovator

By CIOReviewIndia

India InnovatorAmong the major countries of Asia, India has become the second fastest growing innovator after China with patent publishing, according to an analytics report.

The India Innovation Report, presented by an US-based analytics company Clarivate analytics, is based on patent data collected from Derwent Innovation, a proprietary patent research application that provides access to globally trusted, curated patent intelligence and scientific literature. It highlights the growing patent publishing activity in India from 2012 to 2017.

The report shows that the patent publication activity in India has doubled in the last ten years and is growing at a compound annual growth rate (CAGR) of 10.8 percent which is lower than that of China’s CAGR, 15.8 percent. India is ranked 4th in terms of overall patent publishing volume among the top Asian countries.

“The sustained growth rate of innovation in India, as represented in patents published, is promising,” said Arvind Pachhapur, Vice President, Clarivate Analytics.

The major patent holder organizations in India are an equal mix of non-resident and resident companies. Some of the resident organizations are Council for Scientific & Industrial Research (CSIR), Tata Consultancy Services (TCS), Reliance Industries Limited (RIL), Cadila Healthcare and Hindustan Aeronautics Limited (HAL). Non-Resident patent organizations conclude Samsung, Huawei, General Electronics and Ericsson.

Computing, Polymers and Plastics, Communications, Pharmaceuticals, Electric Power Engineering, Food, water & disinfectants, Chemical Engineering, General & agro-Chemical, Instrumentation, Test & Measurement , Automation and Semiconductors & Electronics are  the top technology categories that are identified in the Indian patent publications from 2015 to 2017, as per the report.  Automation technology dominates with the growth rate of 44 percent followed by the communications category which has a growth rate of almost 42 percent.

“In the past two years, the most significant growth stems from India's top four technology categories, computing, polymers and plastics, communications, and pharmaceuticals, demonstrating an increase in the convergence of technologies with computing and communications at the core of several industries,” Pachhapur added.

The first quarter of 2018 observed that the number of priority patent published in India escalated by 32.8 percent over the number of priority patent published in Q1 in 2017.

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