Patent pending: Why Indian startups aren't racing to protect IP

Two months have passed since November, but Hari Vasudevan still can’t hide his excitement when he recalls what happened during the month. His startup, electric autorickshaw manufacturer Vaidyuthi Mobility, was granted a patent by the Government of India. "The best part? I applied for the patent only in January 2024. It was granted in less than a year!" he exclaims.

This isn’t Vasudevan’s first patent rodeo. Vaidyuthi’s first patent application filed all the way back in 2008, took ten years to be granted. “That was a lengthy process,” he recalls.  

Vasudevan’s latest experience with India’s patent system highlights just how much things have improved over the past decade. According to The World Intellectual Property Organization’s (WIPO) annual report for 2024, India processed 93,401 patent applications and granted an all-time-high 76,053 patents in 2023. In stark contrast, just 8,248 patents were granted in 2016.

The WIPO report was widely celebrated, with the Press Information Bureau of the Indian government even issuing a statement lauding the country’s progress. "India ranks sixth globally for patents. The patent office also granted 149.4% more patents in 2023 compared to the previous year, underlining the country’s fast-evolving IP (intellectual property) ecosystem."

The importance of this is hard to overstate. A legal right granted by the government, patents provide their holders with exclusive control over their inventions for a 20-year period. It gives the inventor exclusive rights to use, manufacture, and sell the invention, and prevents unauthorised exploitation within the country.