Innovation, patenting key to Make in India: K Vijayaraghavan

Innovations transfer to market and increase in number of patents are key to Make in India progress and indigenous manufacturing, pointed out  K Vijayaraghavan, president of Society for Technology Mana

Published: 16th September 2017 01:33 AM  |   Last Updated: 16th September 2017 08:33 AM   |  A+A-

PM Narendra Modi at Make in India conclave. | PTI

By Express News Service

HYDERABAD: Innovations transfer to market and increase in number of patents are key to Make in India progress and indigenous manufacturing, pointed out  K Vijayaraghavan, president of Society for Technology Management  (STEM).

“While 45,000 patents were filed in FY17 in India, more than 30,000 of them were filed by international companies. Also, the number of patents being filed by public institutions has been decreasing gradually in our country,” he stressed during the STEM annual summit.

He added, unless push is given to research and innovation in both private and public institutions and technology transfer of these innovations to market, indigenous manufacturing will not get a fillip.

According to a survey done by STEM, less than one per cent of protected innovations and technologies from the academia have reached the enterprises to take them to market. In countries like the US, 15-20 per cent of technologies from academia are commercialised.

He added there is a need for public research institutions and universities to accelerate the opportunity for commercialisation of technologies in the quest for accelerated economic growth. If Indian industry and businesses have to grow strong, they have to bet on indigenous innovation and patents, rather than just following technologies from international companies.

STEM is the professional body engaged in building professional capacity in technology management among the Intellectual property and technology transfer professionals engaged in the public and private enterprises.

STEM survey

Less than 1 per cent of protected innovations and technologies from the academia have reached the enterprises to take them to market. In countries like US, about 15 to 20 percent of technologies from academia are commercialised. 45,000 patents were filed in FY17 in India, more than 30,000 of them were filed by international  companies

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