India is now the second-fastest growing innovator after China among major Asian countries, according to a new report. The 'India Innovation Report' by Philadelphia-headquartered Clarivate Analytics also showed that India is fourth among the major Asian countries in terms of overall patent publication volume and second in terms of growth rate. Patent activity in India is growing at a compounded annual growth rate (CAGR) of 10.8 per cent in patent activity over the past five years, second only to China which is growing at a CAGR of 15.5 per cent, among the top Asian countries.
Arvind Pachhapur, Vice President, Clarivate Analytics, said, “The sustained growth rate of innovation in India, as represented in patents published, is promising. 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 convergence of technologies with computing and communications at the core of several industries.”
The report is based on patent data from Derwent Innovation, a patent research application that provides access to patent intelligence and scientific literature. The top patent filing organisations in the country are an equal mix of resident (Indian origin) and non-resident companies. Some of the noteworthy resident organisations are Council for Scientific & Industrial Research (CSIR), Tata Consultancy Services (TCS), Reliance Industries Limited (RIL), Cadila Healthcare and Hindustan Aeronautics Limited (HAL), the report said.
