International IP Index 2019: Key Facts about India
The International IP Index 2019 released by the U.S. Chamber of Commerce’s Global Innovation Policy Center (GIPC) makes the following observations related to India:
- India experienced its second consecutive year of growth in the IP global ranking, jumping eight places from 44th to 36th.
- The jump in the ranking is attributed to the recognition of international standards of copyright protection and incentives for intellectual property.
- The report notes that the improvement reflects important reforms implemented by Indian policymakers towards building and sustaining an innovation ecosystem for domestic entrepreneurs and foreign investors alike.
- India’s overall score has also increased substantially from 30.07% (12.03 out of 40) in the 2018 index to 36.04% (16.22 out of 45) in 2019.
- India’s score represents the largest gain of any country measured on the Index.
- The weakness of India as highlighted in the report are barriers to licensing and technology transfer, including strict registration norms, limited framework for the protection of biopharmaceutical IP rights, patentability rules outside international standards, lengthy pre-grant opposition proceedings and previously used compulsory licensing for commercial and non-emergency situations as key hurdles.
The report notes that the most substantial movement can be seen from India, which has surged almost 20 per cent and climbed eight places in the IP Index rankings from 44th to 36th.
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Month: Current Affairs - February, 2019