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With patent publication virtually doubling in a decade, India is currently the second-fastest growing innovator after China among leading Asian countries, a new report said on Thursday.
In respect of overall patent publication volume, India is fourth among the major Asian countries and second in terms of growth rate, said the "India Innovation Report" by Philadelphia-headquartered Clarivate Analytics.
Patent activity in India is expanding at a Compounded Annual Growth Rate (CAGR) of 10.8 percent in patenting activity over the past five years, second only to China which is growing at a CAGR of 15.5 percent, among the top Asian countries, the research showed.
"The sustained growth rate of innovation in India, as represented in patents published, is promising," Arvind Pachhapur, Vice President, Clarivate Analytics, said in a statement.
"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 said.
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The analysis is based on patent data from Derwent Innovation, a patent research application that gives access to patent intelligence and scientific literature.
The top patent filing organizations in the country are a balanced mix of resident (Indian-origin) and non-resident companies.
Some of the noteworthy resident organizations are Council for Tata Consultancy Services (TCS), Scientific & Industrial Research (CSIR), Reliance Industries Limited (RIL), Cadila Healthcare and Hindustan Aeronautics Limited (HAL), the report said.
A few of the top non-resident patent filing organizations include Samsung, Huawei, General Electric and Ericsson, it added.
-Sowmya Sangam
