April 13, 2024
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India ranks among top 10 nations for patent grants: Piyush Goyal

Piyush Goyal, the Minister of Commerce and Industry, announced on March 15th that India has entered the top 10 countries globally in terms of patent grants, reflecting significant progress in the country’s intellectual property landscape. During the fiscal year 2023-24, approximately 100,000 patents have been issued, a considerable increase from the 6,000 patents granted in 2014. Additionally, India is experiencing a rapid influx of patent applications, with one filed online every six minutes.

Goyal unveiled various initiatives aimed at strengthening India’s industrial sector. This includes plans to train around 1,600 individuals annually at the Mega Common Facility Centre (CFC) in SEEPZ, focusing on enhancing skills in the gems and jewellery industry. He also introduced a new scheme to promote electric vehicles (EVs), encouraging EV manufacturers to consider India as a manufacturing hub.

Goyal commended the Government e Marketplace (GeM) for its transparency in transactions, contrasting it with past instances of corruption observed during events like the Commonwealth Games. He emphasized the government’s commitment to infrastructural projects, including the coastal road, Atal Setu, and the Mumbai-Delhi highway.

Regarding concerns about diverting rice or sugar for ethanol production, Goyal clarified that there are no such plans, as the government intends to continue using corn for ethanol production due to its cost-effectiveness and rapid growth cycle.

The minister also expressed concern over the misuse of funds in certain states, citing instances of mismanagement in West Bengal and Punjab. He criticized the diversion of wheat intended for beneficiaries of the PMGKY to mills, highlighting cases of adulteration with inferior substitutes.

Picture Courtesy: google/images are subject to copyright


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