Demonstrates a consistent double-digit growth rate for five consecutive years.
China leads the pack with 1.64m patents, followed by the United States, Japan, South Korea and Germany.
India has emerged as a significant player in the global landscape of intellectual property rights (IPR), with a remarkable doubling of patents and industrial design filings between 2018 and 2023 and is ranked sixth globally.
According to the latest report by the World Intellectual Property Organisation (WIPO), India has achieved the distinction in three critical categories of IPR: patents, industrial design applications, and trademark applications. The achievement marks a pivotal moment for the nation, as it enters the top ten for the first time.
The growth trajectory of patent filings in India has been particularly noteworthy, demonstrating a consistent double-digit growth rate for five consecutive years.
Asia dominates
In 2023 alone, India recorded 64,480 patent applications, reflecting a robust increase of 15.7 per cent compared to the previous year. The surge is part of a larger global trend, with over 3.5 million patents filed worldwide, marking the fourth consecutive year of positive growth in global patent activity.
Asia continues to dominate the intellectual property landscape, accounting for an impressive 68.7 per cent of global patent filings in 2023.
China leads the pack with 1.64 million patents, followed by the United States, Japan, South Korea, Germany, and now India. This regional concentration underscores the growing importance of Asia as a hub for innovation and creativity.
Intellectual property rights encompass a wide range of legal protections for creations of the human mind, including patents, copyrights, trademarks, industrial designs, geographical indications, and trade secrets.
These rights are essential for fostering innovation, as they provide creators with the exclusive rights to their inventions and artistic works, thereby incentivizing further development and investment in new ideas.
The WIPO, established in 1967 as a United Nations agency, plays a crucial role in promoting the protection of intellectual property rights globally. Based in Geneva, Switzerland, the organisation advocates for the importance of IPR in driving economic growth and cultural development.
After years of struggling to deliver returns commensurate with its substantial investments, the Vision Fund is now reaping rewards from the successful market entries of various startups.
SoftBank and the Vision Fund are pivoting towards a more focused investment strategy, particularly in the realms of generative artificial intelligence and semiconductor technology.
SoftBank Group Corp has reported its most significant quarterly profit in two years, marking a notable turnaround for the Tokyo-based conglomerate.
In the September quarter, SoftBank achieved a net income of 1.18 trillion yen ($7.7 billion), a dramatic recovery from the net loss of 931 billion yen recorded in the same period last year.
Central to this success has been the Vision Fund, which reported a gain of 373 billion yen, buoyed by a resurgence in the values of several portfolio companies, including Didi Global Inc. and Coupang Inc.
A key driver of this profit surge has been the vibrant initial public offering (IPO) market in India, which has provided the Vision Fund with a much-needed boost.
After years of struggling to deliver returns commensurate with its substantial investments, the fund is now reaping rewards from the successful market entries of various startups.
Startup investments
Notable among these are Ola Electric Mobility Ltd., a prominent e-scooter manufacturer, and Brainbees Solutions Ltd., an online retailer specialising in baby products under the FirstCry brand.
Additionally, the anticipated IPO of Swiggy Ltd, a SoftBank-backed food delivery app, has garnered significant interest, being oversubscribed by more than three times.
The resurgence is particularly significant for the Vision Fund, which has faced substantial challenges in recent years, including two consecutive years of significant losses driven by a downturn in startup valuations. The fund had previously adopted a more cautious investment strategy, scaling back new investments until the recent uptick in the Indian market.
Looking ahead, SoftBank and the Vision Fund are pivoting towards a more focused investment strategy, particularly in the realms of generative artificial intelligence and semiconductor technology.
Share price volatility
Recent investments in companies like OpenAI and Perplexity AI Inc. underscore this shift. Should the IPO market in the United States reopen and demand for Vision Fund companies increase, there is potential for a mini-boom in the coming months.
As SoftBank’s founder, Masayoshi Son, prepares for a substantial push into artificial intelligence and semiconductor investments, the company finds itself in a position of relative strength.
With a robust cash reserve and an increase in asset values, particularly following the rise in share prices of its chip affiliate, Arm Holdings Plc, SoftBank is poised to navigate the complexities of the current investment landscape.
However, the volatility of SoftBank’s share price, influenced by fluctuating investor sentiment regarding the transformative potential of AI, remains a critical factor to watch. Despite experiencing significant fluctuations, the stock has shown signs of recovery following a peak in July.
The line between persuasion and manipulation is becoming increasingly blurred, particularly as AI-generated deepfakes gain sophistication.
Governments and tech companies need to collaborate to create regulations that balance privacy with transparency, ensuring accountability in political messaging.
The future will likely see increased regulation, stronger data privacy measures, and further integration of advanced technologies like AI, AR, and VR to engage voters in new ways.
The ubiquity of smartphones, declining trust in traditional media and the powerful capabilities of AI—which have enabled more direct and personalised communication between candidates and voters—has resulted in mobile messaging apps becoming the dominant medium for political campaigns in this year of elections.
A record number of people either have voted or are set to vote in 64 countries – about 49 per cent of the global population. And mobile platforms like WhatsApp, Telegram, and Signal, along with SMS texts, have seen explosive growth in political usage due to their unparalleled reach and immediacy.
In countries like India, Brazil, and the United States, these apps have become essential tools for political campaigns, effectively bypassing traditional media channels.
Growing reliance on mobile messaging
The sheer volume of political messaging in the 2024 US elections underscores the transformative role these platforms play.
Thomas Peters, founder and CEO of RumbleUp—a peer-to-peer texting platform widely used by the Republican Party—highlighted this shift, noting that 2024 is expected to see a 50 per cent increase in political messaging compared to 2022, when about 16 billion messages were sent.
Riccardo Amati.
“I would be surprised if we didn’t at least reach 25 billion political messages, both sides, between now and November 5th of this year,” Peters told the audience of a panel during the MEF Leadership Forum Americas in Miami, Florida.
This surge illustrates the growing reliance on mobile messaging and the scale at which campaigns are investing in these new forms of communication. The reasons are pretty clear. According to research conducted by cybersecurity firm Proofpoint, most US adults (60 per cent) prefer to get their news through digital media.
An even higher percentage (86 per cent) will often or sometimes consume news via a smartphone, tablet or computer. And most of the US voting population (97 per cent) has access to mobile messaging.
Mobile phone political messaging offers significant benefits, such as increasing voter engagement, particularly among younger and disenfranchised voters. It also provides a direct and efficient channel for candidates to inform the electorate about key issues, ultimately enhancing democratic participation.
Power and risks of AI
In India, where general elections were held from April 19th to June 1st, AI-driven deepfake technology was used to impersonate both deceased and living politicians, delivering messages under the guise of familiar leaders.
According to cybersecurity firm McAfee, one in four Indians (22 per cent) reported encountering political content that was later discovered to be a deepfake. About 75 per cent had encountered deepfake content in the 12 months before March, with many expressing concern about its use for impersonating public figures, undermining trust in media, and influencing elections.
Similarly, in Pakistan, AI was used to simulate messages from imprisoned political leader Imran Khan, creating a scenario where voters received communications from a figure currently behind bars.
In the US, AI-generated messages have impersonated candidates, further blurring the line between reality and manipulation. A fake robocall from “President Joe Biden” highlighted the growing concern over misinformation.
According to a McAfee study, 43 per cent of Americans are worried about deepfakes influencing elections, 37 per cent about undermining trust in media, and 43 per cent about impersonating public figures.
In the UK, just before July 4th snap elections, deepfake audio clips of Labour Party Leader Keir Starmer and Slovak opposition head Michal Šimečka spread rapidly on social media before being debunked by fact-checkers.
AI has significantly enhanced the effectiveness of mobile messaging by enabling campaigns to precisely target and personalise communication. However, this capability also introduces significant risks. The line between persuasion and manipulation is becoming increasingly blurred, particularly as AI-generated deepfakes gain sophistication.
Anna Quint, Executive Director of Campaign Verify, warned — in an interview with MEF — that AI-generated content could truly sway an election, especially on the local level, where budgets are smaller, and the electorate is less likely to recognise deepfakes as fabrications.
Regulatory challenges
The rise of mobile messaging during elections has exposed significant regulatory gaps. Unlike public social media platforms, messaging apps operate within closed networks, making it difficult for regulators to monitor content and curb the spread of misinformation. This regulatory void raises concerns about the integrity of the electoral process and the potential for abuse.
Anna Quint emphasised that while tools like Campaign Verify can ensure the identity of political campaigns, broader regulatory measures are needed to address the content and governance of these messages. Without comprehensive regulation, political messaging risks becoming the “wild west”.
Looking ahead, governments and tech companies must collaborate to create regulations that balance privacy with transparency, ensuring accountability in political messaging. The future will likely see increased regulation, stronger data privacy measures, and further integration of advanced technologies like AI, AR, and VR to engage voters in new ways.
The tech accord to combat deceptive use of AI in election campaigns promoted by 25 leading companies, including Amazon, Google, Meta and Open AI, at the margins of the Munich Security Conference in February, is a step in the right direction. But remains nothing more than a letter of intent.
The elections of 2024 have marked a turning point in political communication, with mobile messaging becoming central to campaign strategies. This offers new opportunities for voter engagement, but also presents ethical and regulatory challenges.
As Katie Harbat stated, “The future of political messaging is bright, but it’s up to us to ensure it serves the public good, not just political interests”. The potential for both positive innovation and manipulation is unprecedented. Protecting the integrity of elections and democracy will require careful consideration.
Riccardo Amati is from MEF (the Mobile Ecosystem Forum), a global trade body established in 2000 and headquartered in the UK with members across the world. As the voice of the mobile ecosystem, it focuses on cross-industry best practices, anti-fraud and monetisation. MEF provides its members with global and cross-sector platforms for networking, collaboration and advancing industry solutions.
However, the BCG report indicates that achieving the full potential of AI remains a formidable challenge.
Sectors experiencing the most significant integration of AI include fintech, software, and banking.
Country is not just poised for increased adoption of AI but is also on the path to generating substantial, measurable value.
A significant 30 per cent of Indian companies are successfully maximising the value of AI, surpassing the global average of 26 per cent, according to Boston Consulting Group.
The proactive approach positions India as a frontrunner in leveraging emerging technology to enhance business operations.
The sectors experiencing the most significant integration of AI include fintech, software, and banking, reflecting a trend where industries are increasingly reliant on technology to improve efficiency and drive innovation.
After substantial investments in AI, coupled with a focus on talent acquisition and pilot projects, CEOs are beginning to demand tangible returns from these initiatives.
However, the report indicates that achieving the full potential of AI remains a formidable challenge. Despite widespread implementation, only 26 per cent of global companies have developed the requisite capabilities to transition from mere proofs of concept to generating genuine value from their AI investments.
The BCG report titled “Where’s the Value in AI?” is based on a comprehensive survey involving 1,000 Chief Experience Officers (CxOs) and senior executives across various sectors in 59 countries, including Asia, Europe, and North America.
Transformative potential
The findings reveal a stark contrast between those who have successfully harnessed AI and the majority who are yet to realise its benefits. A mere 4 per cent of companies worldwide are reported to have advanced AI capabilities that consistently deliver significant value, while another 22 per cent have formulated an AI strategy.
Alarmingly, 74 per cent of companies have yet to demonstrate tangible value from their AI endeavours.
Saibal Chakraborty, the India Leader of the Technology and Digital Advantage Practice at BCG, said that India’s accelerated adoption of AI is redefining its global competitive edge.
“With every Indian company actively experimenting with AI, the nation demonstrates remarkable readiness to exploit its transformative potential. The maturity of India’s AI initiatives spans both traditional and digital sectors, indicating a broad-based adoption that extends beyond technology-centric industries.”
As India’s AI leaders move towards innovating new business models rather than merely enhancing productivity, Chakraborty said the country is not just poised for increased adoption of AI but is also on the path to generating substantial, measurable value.
Company’s fifth manufacturing facility in Bengaluru with an investment of Rs30b is set to commence operations in 2025.
India unit is expected to report 19% rise in revenues to Rs22b for the current year ending September 2025.
Carl Zeiss AG, the renowned German optical technology firm, inaugurated its first global capability centre (GCC) in Bengaluru, India.
The significant development marks a pivotal moment in the company’s growth strategy, as it aims to double its local workforce to 5,000 employees within the next three years.
The establishment of this GCC underscores India’s transformation into a vital hub for global operations and innovation in technology.
Located in Bengaluru, a city recognised for its flourishing tech ecosystem, the new centre will facilitate a range of critical functions, including cloud computing, cybersecurity, and network operations.
Furthermore, it will focus on software development for Carl Zeiss Meditec AG, the company’s medical technology subsidiary.
Recruitment drive
The strategic decision reflects the evolving role of GCCs in India, which have transitioned from mere outsourcing centres to integral components of international companies, supporting various operational and developmental functions.
The ambitious workforce expansion plan reflects Carl Zeiss AG’s commitment to harnessing local talent in its operations.
In addition to technical roles, the recruitment drive is also intended to support its fifth manufacturing facility, which is being constructed in Bengaluru with an investment of Rs30 billion (approximately $355.67 million), set to commence operations in 2025.
Dhaval Radia, the CFO of the company’s Indian unit, highlighted Bengaluru as an optimal location due to its rich pool of skilled professionals, collaborative environment, and vibrant ecosystem, which are essential for growth and innovation.
The company also has sales and research and development work in India. The India unit is expected to clock Rs22 billion in revenues for the current year ending September 2025, up 19 per cent year-on-year, Radia said.
The Karnataka state government’s recent draft policy aims to double the number of GCCs to 1,000 and create 350,000 new jobs by 2029, further solidifying the state’s position as a key player in the global tech landscape.
Reports suggest that both Flipkart and Amazon have favoured select sellers, a practice that not only contravenes existing regulations but also poses a threat to competition, particularly disadvantaging smaller players in the market.
India’s burgeoning e-commerce sector, valued at $70 billion, is experiencing intensified regulatory scrutiny as the Enforcement Directorate (ED), the country’s financial crime agency, escalates its investigation into alleged violations of foreign investment laws by major players like Flipkart and Amazon.
The scrutiny follows recent raids conducted on various sellers associated with these platforms, reflecting increasing governmental concerns over compliance with legal frameworks designed to protect local markets and promote fair competition.
The Indian legal landscape prohibits foreign e-commerce companies from maintaining inventory of goods sold through their platforms, compelling them to act merely as intermediaries connecting sellers and consumers.
However, investigations have revealed potential infractions where these companies have allegedly exerted control over the inventory, undermining the foundational principles of permitted marketplace operations.
Safeguarding local businesses
Reports suggest that both Flipkart and Amazon have favoured select sellers, a practice that not only contravenes existing regulations but also poses a threat to competition, particularly disadvantaging smaller players in the market.
Recent findings from an Indian antitrust investigation further underscore these concerns, indicating that the operational dynamics of these platforms have allowed them to dominate the market in ways that contradict legal stipulations.
The ED plans to summon executives from both companies as it reviews evidence gathered during last week’s raids, where officials inspected financial records and questioned sellers about their operations and affiliations with these e-commerce giants.
The implications of this regulatory action extend beyond the immediate investigations. They signal a broader regulatory trend in India aimed at ensuring that e-commerce platforms operate within the bounds of the law while fostering a competitive market environment.
The government’s actions underscore its commitment to safeguarding local businesses against practices perceived as monopolistic or unfair, particularly in a rapidly evolving digital economy.
Maintaining equitable practices
Moreover, this scrutiny is not isolated to Flipkart and Amazon. Similar concerns have emerged around other sectors influenced by large online platforms, such as food delivery services, where allegations of preferential treatment towards select service providers have surfaced.
The overarching regulatory landscape indicates a critical juncture for India as it navigates the complexities of modern commerce while striving to maintain equitable practices.
As the investigation unfolds, the outcomes may reshape the operational frameworks of e-commerce companies in India, enforcing stricter adherence to legal requirements, and ultimately redefining the competitive dynamics of one of the world’s fastest-growing retail markets.
The effectiveness of these measures will largely depend on the commitment of regulatory bodies to monitor compliance rigorously and the willingness of companies to adapt to an increasingly vigilant regulatory environment.
