India ranks 37th in USCC’s 2016 Intellectual Property Index

In recently released Intellectual Property Index (IPI) by United States Chamber of Commerce (USCC), India was ranked 37th among the surveyed 38 countries.
These 38 countries benchmarked in the 2016 index accounts for nearly 85% of the global GDP. Venezuela ranked lowest below India at 38th position with 6.42 points on the index.
Key highlights

• In this edition of IP Index, India has scored a low 7.0 out of maximum 30 points.
• Top 10 Countries: US (28.6 score), UK (27.5), Germany (27.4), France (27.2), Sweden (27.1), Singapore (25.6), Switzerland (24.9), Australia (24.8), Japan (23.3) and South Korea (23.3).
• BRICS Countries: Russia (20th Rank), China (22nd), South Africa (26th), Brazil (29th) and India (37th).
• Reasons for India’s lower ranking: Patent protection in India remains outside of international best practices.
• Indian laws do not provide adequate enforcement mechanisms to combat online piracy effectively.

About Intellectual Property Index

The index is based on 30 parameters (each having one point) fixed by US Chamber’s Global Intellectual Property Centre (GIPC). It was started in 2012 and some of its criteria are patent, copyright and trademark protections, enforcement and engagement in international treaties.

Month: Current Affairs - February, 2016