Consider the following statement about TRIPS Agreement?

I. Is an agreement on international Intellectual Property rights.

II. TRIPS came into force in 1995, as agreement that established the World Trade Organisation (WTO).

III. It is applicable to all WTO member countries.

Which of the following/s statement/s is/are correct?

Solution

• The number of patent filings increased from 42,763 in 2014-15 to 66,440 in 2021-22 due to steps taken by the government to strengthen intellectual property rights (IPR) regime of the country. • It also said India granted 30,074 patents in 2021-22 as compared to 5,978 in 2014-15. • For the first time in the last 11 years, the number of domestic patent filing has surpassed the number of international patent filing at Indian Patent (IP) office in January-March 2022 quarter. • Of the total 19,796 patent applications filed, 10,706 were filed by Indian applicants and 9,090 by non-Indian applicants. • The coordinated efforts by the department for promotion of industry and internal trade (DPIIT) and IP office has led to increased awareness among all strata of the society.