India Current Affairs - 2019

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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.

International IP Index 2019: Key Facts

The U.S. Chamber Chamber of Commerce’s Global Innovation Policy Center (GIPC) has released the International IP Index 2019. The Index aims to create a roadmap for countries that aspire to foster economic growth and global competitiveness through stronger IP. The Index benchmarks the IP framework in 50 global economies.

The index evaluates the IP infrastructure in each economy based on 45 unique indicators, which are critical to the growth of effective IP systems. The indicators encompass 8 categories of IP protection: patents, copyrights, trademarks, trade secrets, commercialization of IP assets, enforcement, systemic efficiency, and membership and ratification of international treaties.

International IP Index 2019

The important features of the International IP Index 2019 are:

  • The U.S., UK, and EU economies remain atop the global IP rankings, though the U.S.’s lead narrowed due to systemic challenges to the U.S patent system.
  • Japan and Singapore also appear among the Index’s top ten.
  • India, for the first time, broke free of the bottom ten per cent of economies measured.
  • Majority of the economies benchmarked are building more effective foundations for IP policy.
  • The government introduced reforms in Argentina to streamline the patenting process, increase international cooperation on IP, and bolster transparency and stakeholder engagement has resulted in increasing of its overall score by 15% and its rankings from 46th in 2018 to 40th in 2019.

 

 

The report concludes that starting from a low global IP standard, progress has been slow and inconsistent. Yet there are obvious green shoots, seen most clearly in the adoption of broader measures to improve the systemic efficiency of IP rights administration and the ability of IP owners to leverage their rights to finance innovative and creative activities. Notwithstanding continued political threats to undermine IP rights for populist purposes, there is evidence that the world is becoming an IP believer, inspired by the possibility of a better tomorrow.