BENGALURU: An analysis over 10 years shows that the US grew from filing 53,000 international patents in 2008 to 60,000 in 2018, while China increased its IPs from just 6,000 in 2008 to a whopping 60,000 in 2018. However, India filed only 750 IPs in 2008, and increased it to just 2,000 patents in 2018, said Nivruti Rai, Country Head, Intel India.
Nivruti was speaking at a panel discussion at the three-day Bengaluru Tech Summit. She said India has been missing out on its massive potential for growth.
She pointed to the need to streamline research and development to areas of relevance. While there is excessive focus on electrical, chemical and mechanical engineering, there is a need to also focus on health, cloud computing and artificial intelligence.
Even while unicorn companies in the US focussed on cloud computing, AI and life sciences, China extensively developed e-retail, electric cars and healthcare, she said. India must also focus on developing solutions to its own problems such as healthcare, cloud computing and artificial intelligence, in an era where the wealth of the economy is defined by the data it holds.