Indian firms like Wipro, TCS, Bharat Petroleum, Reliance industries have topped the list of Indian firms which have created intellectual property (IP) assets in the US.
According to latest report, 'Emerging Technologies: Leading the next wave of IP Creation for India' by NASSCOM, Indian firms filed over 4,600 patents between 2015 and 2018.
The report has showcased how Indian firms are creating IP assets in the US, which is one of the most favored destination for filing patents.
Additionally, the report also has found that share of tech patents are on a rise. During 2017-18, the tech patents were 65 per cent of the total patents filed. The proportion of tech patents filed in the US increased to two-third between 2017 and 2018 from half in 2015.
Emerging technologies such as Artificial Intelligence, Cyber Security, IoT and Cloud Computing accounted for over 50 per cent of the tech patents filed in 2017 to 2018. AI is leading in the emerging technologies segment with 330 patents filed for the 2015-18 time period. Apart from AI, there has been a consistent growth on building IP in other emerging tech domains with patents filed in Cyber Security (193), IoT (107) and cloud computing (88). The study also highlighted the patent growth story in newer application areas including cyber security (96), digital payments (31), e-commerce (87) and navigation (58).
As per the report, in the period from 2015-18, Indian start-ups have filed nearly 200 patents in the US, majority of which focused on emerging technology areas.
On the other hand, the non-tech patents are mostly in chemistry and chemical composition, pharma and mechanical and structural inventions.
Wipro has filed a patent to generate a safe navigation path for driver-less vehicles, and TCS has filed a patent for pest management , where the system provided pest forecasting using historical pesticide usage information.
Innovation is the key to driving transformation and such patents and trademarks are a testimony to this transformational growth, Nasscom President Debjani Ghosh said.
"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," she added.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today