Patents filed by India-domiciled companies in US continue to decline; here’s the key reason

By: |
Updated: Apr 26, 2020 8:00 PM

Artificial intelligence (AI), cybersecurity, internet of things, cloud computing were among the key technology domains where patents were filed, according to a Nasscom report.

The covid-19 scenario will see an increase in adoption of data, technology, digital as well as integration of MarTech to create virtual experiences for consumers onlineAI patents increased 83 per cent from 330 during 2015-18 to 604 during 2015-19.

The number of patents (technology and non-technology) filed by the India domiciled companies in the US has declined 12.3 per cent from 1,526 in 2017 to 1,338 in 2018-19, according to a Nasscom report. The fall was on the back of a decline in non-technology patents from 46.2 per cent to 40.6 per cent during the said period even as technology patents shot up from 53.8 per cent to 59.4 per cent. The number of non-technology patents had also declined in 2017 from 51.9 per cent in 2016 while technology patents had increased from 48.1 per cent in 2016. Importantly, the decrease in the total number of patents has been since 2016 when 1,836 patents were filed by such businesses in the US.

Analysing the patents filed since 2015 till 2019 so far, the report titled Emerging Technologies: Leading the technology IP creation bandwagon for India noted more than 40 per cent increase in the patent count to around 6,500 filed in the US by India domiciled companies from 2015-18 period. Technology patents from Indian startups also increased from around 200 patents in 2015-18 to more than 280 patents during 2015-19.

Also read: Government promotes Air India chief Rajiv Bansal to secretary-level rank

Artificial intelligence (AI), cybersecurity, internet of things, cloud computing were among the key technology domains where patents were filed. AI patents led the tally by 83 per cent growth from 330 during 2015-18 to 604 during 2015-19. Patents filed by startups were largely in the areas including healthcare and medical devices followed by telecom/optical communication, software applications, vehicle, advertising and management and more. “Global coronavirus outbreak is likely to support the lead of health and medical devices related tech patents (and in pharmaceuticals on the non-tech front),” the report said.

“It is encouraging to see IP creation remains a key imperative for Indian companies with India domiciled companies filing ~6500 patents in the US during 2015-2019 up from 4600+ patents during 2015-2018. Also, as digital technologies become mainstream, majority of the technology related IP Creation is being witnessed in emerging technologies lead by AI, Cybersecurity, IoT and Cloud Computing,” Debjani Ghosh, President, Nasscom said in the report.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1IOCL to set up Rs 17,825-crore petrochemical unit in Gujarat refinery
2Airbus reveals concepts of new hydrogen-powered zero-emission aircraft, could enter service by 2035
3Parliament approves changes in IBC to protect COVID-stressed firms from insolvency