Context:  NITI Aayog and the World Intellectual Property Organization (WIPO) have signed a Joint Letter of Intent (JLoI) under the Atal Innovation Mission (AIM) to develop programs focused on innovation, entrepreneurship, and intellectual property for global south countries.

World Intellectual Property Organization (WIPO)

• About: It is the global forum for intellectual property (IP) services, policy, information, and cooperation.
• Formation: 1967.
• Funding: It is a self-funding agency of the United Nations. It is one of the 15 specialized agencies of the United Nations (UN).
• Members: 193 members. (India is a member)
• Headquarters: Geneva, Switzerland.
• Mission: To lead the development of a balanced and effective international IP system that enables innovation and creativity for the benefit of all.
• Report: It releases the Global Innovation Index (GII) annually. 

o As per the GII 2023 report, India had retained the 40th position of 132 economies featured in the GII ranking.

o As per WIPO Report 2022, India has experienced sixth straight year of growth in patent filing, posting the highest growth of 31.6% globally. 

o Importantly, a substantial increase in resident filings was the main driver of growth overall in 2022.