India granted 1.03 lakh patents in financial year 2023-24, Controller General of Patents, Designs and Trademarks Unnat Pandit said on Thursday, as he assured that there will be 'no delay' in the Intellectual Property Office as it prioritises timely clearance of applications.
Addressing an Assocham event here, he shared that 40 per cent of the applications were disposed of within 30 months of the request for examination.
'We are going to have no delay in the IP office, that's the motive with which we have .. that IP should be granted and under Chapter 8 of the Act it should also be utilised by the applicant ... that will generate the economic value of IP,' Pandit said.