TM sign indicates that you have applied for your trademark whereas, ® sign means that your Trademark is Registered
There are few stages in Trademark Registration.
Stage: 1 - Trademark Application, after this stage the applicant can use ™ above the Brand Name.
For example –
This stage will get complete in 2 days.
Stage: 2 - After the completion of stage 1, Government checks the similarity of the application from the registered Trademark Data. The government can raise Objection if they found any similarity between the application and trademark data.
‘Similarity’ - The application should not be similar to a registered trademark by any mode, which can be under writing or phonetic.
Stage: 3 - After government passes the Objection, Stage 3 is the verification of application by those who have already registered some Trademarks.
In this stage, the government publishes a Trademark Journal in which all the fresh applications are published and pending for clarification from the General Public.
If no one raises any Clarification then ™ will be converted into ® which means your application for Trademark Registration is complete and your Brand is Registered.
The whole process almost takes a year.