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India Most Innovative Companies (Updated 2024)

India has rapidly climbed in the Global Innovation Index—from 81st place in 2015 to 40th in 2023—solidifying its leadership in Central & Southern Asia. As a hub of innovation and technology, India is not just keeping up but setting new standards.

Join us as we explore what’s fueling India’s innovation boom in 2023. From ground-breaking inventions to strategic intellectual property moves, discover which visionary leaders are propelling India’s surge in innovation.

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Insights & Analysis:-

  1. High Patent Activity from Non-Traditional Players:
    • Sabyasachi Calcutta LLP leads the list with 1,143 patents filed in 2023, a surprisingly high count for a company typically associated with fashion and design. This suggests a significant investment in innovation, potentially in areas like textile technology, sustainable fashion, or new design methods.
    • Bluest Mettle Solutions and Euphoric Innovations, which are not as widely recognized as other industrial giants, also show strong patent activity, indicating their focus on research and development, possibly in niche or emerging technologies.
  2. Strong Representation from the Automotive Sector:
    • Companies like Hero MotoCorp (413 patents), TVS Motor (265 patents), Mahindra & Mahindra (146 patents), Ola Electric Mobility (139 patents), Tata Motors (98 patents), and Matter Motor Works (86 patents) highlight the automotive sector’s focus on innovation, particularly in areas like electric vehicles (EVs), autonomous driving, and sustainability.
  3. Footwear Industry Innovation:
    • Relaxo Footwears (186 patents) and Walkaroo (170 patents) show a strong emphasis on innovation in the footwear industry. This could be related to new materials, sustainable production methods, or advanced footwear technologies such as improved ergonomics or smart features.
  4. Technology and Digital Services:
    • TCS (416 patents) and HCL Technologies (64 patents) are leading the way in technology and digital services, focusing on areas like AI, cloud computing, and digital transformation solutions. Their consistent patent filing underscores their role in shaping the future of IT and digital services.
  5. Diversified Innovation Across Sectors:
    • Companies from various sectors, including Jio Platforms (193 patents) in telecommunications, Havells India (167 patents) in electrical equipment, UPL (97 patents) in agrochemicals, and Sterlite Technologies (69 patents) in optical fiber and cable solutions, demonstrate a broad-based commitment to innovation across different industries.
  6. Emerging and Smaller Companies:
    • The presence of smaller or emerging companies like Reflect Sculpt Pvt Ltd (83 patents) and Numeros Motors (78 patents) among top filers indicates a vibrant innovation ecosystem in India, where even newer or niche players are contributing significantly to the intellectual property landscape.

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Our comprehensive report provides an in-depth look into the patent portfolio. The report includes a breakdown of the patent portfolio across various technologies, listing the patent along with brief summaries of each patent's technology.