Is India ready to lead the IP Economy?

India’s innovation journey has long been characterized by “jugaad”—a term denoting frugal, ingenious solutions born out of necessity. Today, this spirit is evolving into a structured and strategic approach to intellectual property (IP), positioning India as a formidable player in the global IP economy.​

In 2024, India witnessed a significant uptick in patent filings, with over 92,000 applications submitted, underscoring the country’s growing emphasis on innovation. However, the number of patents granted saw a decrease, totalling 64,941, a decline from the previous year’s record.​ In the fiscal year 2023–24, India granted a record-breaking 103,057 patents, averaging 250 patents per working day—a testament to the country’s burgeoning innovation ecosystem. Notably, over 55 per cent of these applications originated from Indian residents, marking a significant shift towards domestic innovation.

Industrial design registrations saw a remarkable 26% rise in 2024, reaching 38,633 designs—highlighting India’s growing emphasis on creativity and design innovation. Similarly, design applications recorded a significant 36.4 per cent increase in 2023, underscoring the expanding focus on innovation across various industries.

Recognizing the strategic importance of IP, the Indian government has undertaken several initiatives to bolster the IP ecosystem:​ Patent (Amendment) Rules 2024, introduced significant changes to streamline patent procedures, including reducing the timeline for filing a request for examination from 48 months to 31 months, enhancing the efficiency of the IP system.​ National Intellectual Property Awards 2024 reaffirmed India’s commitment to fostering innovation and strengthening its IP framework. National IPR Policy aims to promote innovation and entrepreneurship while safeguarding public interest. Digital Transformation. Implementation of comprehensive e-filing systems and public search utilities to facilitate easier access and transparency in IP processes.​

Despite these advancements, India’s R&D expenditure remains at approximately 0.65 per cent of GDP, significantly lower than innovation-driven countries like Israel and South Korea, which invest over 4%. The private sector’s contribution is particularly limited, underscoring the need for increased industry-academia collaboration and investment.​

India’s evolution from “jugaad” to a structured IP strategy signifies a transformative shift in its innovation landscape. To solidify its position as a global IP leader, India must:​

Enhance R&D Investment: Increase both public and private sector funding to match global standards.​

Foster Industry-Academia Collaboration: Encourage partnerships that translate research into market-ready innovations.​

Promote IP Awareness: Educate stakeholders about the importance of IP rights and protection mechanisms.​

By addressing these areas, India can transition from a nation known for frugal innovation to one recognized for its robust and dynamic IP economy.

India stands at a decisive inflection point—not just as a consumer of global ideas, but as a creator, protector, and exporter of intellectual assets. The shift from jugaad to jurisprudence, from makeshift to meticulously patented innovation, is no longer aspirational—it is inevitable.

But leadership in the IP economy isn’t just about filing numbers or ticking policy boxes. It’s about embedding a culture of innovation into the very DNA of our education, enterprises, and ethos. It’s about protecting not just inventions but dreams. And most importantly, it’s about owning our narrative in a world that increasingly runs on ideas.

If India can scale its creative might with strategic intent, back it with R&D firepower, and enforce IP rights with global credibility, then the question isn’t whether India is ready—but whether the world is ready for an India that leads with innovation. The race for the IP throne is on. And India isn’t chasing it anymore—it’s preparing to claim it.