Commerce and Industry Minister Piyush Goyal announced that the Indian patent office has set a record by granting an impressive 41,010 patents until November 15 in the current fiscal year. This achievement is notably higher compared to the 4,227 patents granted in the fiscal year of 2013-14.

"India's youth will be great beneficiaries of such strides," he said.

"It's a record-breaking achievement! The highest number of patents granted thus far in 2023-24," he shared on the social media platform X.

Responding to this, Prime Minister Narendra Modi hailed it as a "remarkable feat," signifying a significant milestone in India's progression towards establishing an innovation-centric knowledge economy.

Further, the Prime Minister said that more people applying for patents in India shows how creative young people are and is a really good sign for the future.

In 2022, a report from the World Intellectual Property Organization showed that Indians filed 31.6% more patent applications. This marks an impressive 11-year streak of growth, unmatched by any other country among the top 10 filers.