The number of approved applications for trademarks dropped by 23.55 per cent in the past calendar year, according to the Department of Patents, Designs and Trademarks (DPDT).
The department, under the Ministry of Industry, approved some 3321 new trademark applications in 2016 which was 4522 in the previous year.
Of the approved applications, 2671 were filed by foreigners while the rest 704 were filed by the local residents of the country. 
In 2015, there were 1130 applications approved for the local residents while it was 3392 for the foreign applicants.
Trademark is a sign used by the owner of a certain products or provider of certain services to distinguish them from the existing products and services in the market or of the other parties. 
According to the World Intellectual Property Organization (WIPO), a trademark can consist of words and combination of words (slogan), logos, figures and images, letters, numbers, sounds and moving images or a combination of those. 
 
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Source: The Financial Express