Use of licensed software can add $739 billion to India's GDP: Study

As per Global Intellectual Property Centre (GIPC), the use of licenced software can help to boost India’s Gross Domestic Product (GDP) by $739 billion.
As per GIPC:

• The music industry alone faced an estimated total loss of $431 million in 2012 due to piracy.
• In 2011, the software industry accounted a 63% rate of PC software piracy with a commercial value of unlicensed software estimated to be over $2.9 billion.
• If the use of licensed software is increased by 1%, it would generate almost $1.3 billion in national production for India, compared with $554 million from a similar increase in pirated software.
• It suggests Government, law enforcement and industry in India to take measures to realize this gain by reducing piracy and encouraging use of licensed software.
• The physical, online and mobile piracy, illegal recording of movies from cinema screens and unlicensed use of software by enterprises, print and photocopy piracy strangulate the market for other creative sectors.

What is  Global Intellectual Property Center (GIPC)?

The Global Intellectual Property Center (GIPC) is an affiliate of the U.S. Chamber of Commerce. It is leading a worldwide effort to champion intellectual property rights as vital to creating jobs, saving lives, advancing global economic growth, and generating breakthrough solutions to global challenges.

Month: Current Affairs - November, 2013