India jumps to a higher spot on the US Chamber’s global IP index

international ip index

India has maintained its upward growth on the International Intellectual Property (IP) Index ranking. In the current edition of the International IP Index, India’s rank moved up to 36th position from 44 in the last year.

India’s complete score in the seventh edition of the US Chamber of Commerce’s Global Innovation Policy Centre’s (GIPC’s) annual international IP index has increased substantially to 16.2 against 12.03 in the sixth edition. The report, ‘Inspiring Tomorrow’ analyses the IP climate in 50 world economies, based on 45 indicators critical to an innovation-led economy.

As per the statement issued by the GIPC India’s performance determines the reforms implemented by Indian policymakers towards building and sustaining an innovative ecosystem for domestic and foreign investors.

Patrick Kilbride, Senior Vice-President GIPC said, “ India’s performance on the Index finely captures the Government of India’s incremental, consistent initiatives over time to improve the country’s IP ecosystem, guided by the vision of the 2016 National IP Rights Policy.”

Kilbride said that the improvement in India’s performance is a result of specific reforms, including its accession to the WIPO Internet Treaties, the agreement to initiate a patent prosecution highway with international patent offices, a dedicated set of IP incentives for small businesses, and administrative reforms to address the patent backlog.

Commenting on the enforcement environment, the report noted that rights holders continue to face challenges in enforcing their IP rights in India. “India has high rates of substandard and counterfeit medicines, online and physical piracy, and counterfeiting. One area of growing concern has been the long pendency times in the Indian court system,” the report added.

Source: business-standard.com