India Current Affairs - 2020

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.

Nikkei India Services Business Activity Index: Key Facts

The seasonally adjusted Nikkei India Services Business Activity Index report makes the following observations about the Services Business Activity in India:

  • The index witnessed a drop for the second straight month in January to 52.2 from 53.2 in December.
  • The fall indicates a softer expansion in output.
  • The growth was supported by favourable public policies, enhanced capacities and greater demand.
  • The upturn was curbed by competitive pressures and election uncertainty.
  • The report notes that a sharp and accelerated rise in manufacturing production counteracted the slowdown in activity growth across the service economy.
  • The report notes that Business activity growth in the Indian service sector cooled further at the start of 2019, amid the weakest upturn in new work since last September.
  • Optimism regarding the outlook was sustained and the companies have continued to hire. The job creation was at a three-month high
  • Even though the inflation rates remained mild by historical standards, the costs rose to a greater extent than in December.
  • There was a moderate increase in sales that was the weakest in four months. The slowdown was centred on the domestic market as new orders from abroad grew to the greatest extent since last September.

Expansion rates in the Indian service sector have been at similarly modest levels for the past four months and the data for January extends the trend. There is some sign that growth may run out of steam, in the short-term at least, as seen by the weakest improvement in demand for four months and relatively subdued optimism.