India Issues One Lakh Patents In 2024, Up From 6,000 A Decade Ago: Piyush Goyal 

Hyderabad, July 1 (Maxim News): The number of patents granted in India has increased significantly. India issued around one lakh patents in 2024, ten years ago it was only 6000 a year. highlighted Union Minister of Commerce and Industry Piyush Goyal during an outreach program with industry leaders and stakeholders in Telangana’s Hyderabad.

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The minister also highlighted that the current government is committed to having a corruption-free India and the government is trying to eliminate any potential for anybody required to go to government offices to avail a government service. “Ten years ago, the IPR (Intellectual Property Rights) office used to give 6,000 patents.  Last year, they issued one lakh patents, he said. 

Union Minister Goyal further added, “PM Modi has often mentioned that his government is committed to a corruption-free India.  And this is one effort in that direction to eliminate any potential for anybody requiring to go to government offices.  Everything will be online and issues will also get resolved online.”  The minister highlighted that “Invest India’ is now going to be focused on both trade and investment.  And it will no longer only be supporting foreign investors.  Now, its mandate is being expanded so that domestic industry, and domestic trade will also have the opportunity to use the services of Invest India. 

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“Invest India’ is a National Investment Promotion and Facilitation Agency that helps investors looking for investment opportunities and options in India. 

Piyush Goyal also requested suggestions from the stakeholders to engage with Invest India for the issues of trade, issues for export or import, and issues when Indians are investing in their own land.

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He added that following this approach of participation by all it will become a kind of a conduit between governments, both central and state, and entrepreneurs and business persons for all issues related to trade and investment. 

For the smooth facilitation and clearance of trade, the minister shared that all the work at the office of the Directorate General of Foreign Trade (DGFT) will be moved to online mode.

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“DGFT offices almost across the country are being converted to trade promotion offices, trade and investment promotion offices.  And all processes that are run by DGFT will be moved online” he said. (Maxim News) 

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