Intellectual Property Index Current Affairs

India ranks 44 in US Chamber’s Intellectual Property Index

India was ranked 44th out of 50 countries in the Intellectual Property (IP) Index released by US Chamber of Commerce. Last year, India was ranked 43rd out of 45 countries in index, with an overall score if 8.4 points.

The index was released as part of annual report prepared by the Global Innovation Policy Center (GIPC) of the US Chambers of Commerce. The report analyses IP climate in 50 world economies based on 40 unique indicators that benchmark activity critical to innovation development surrounding patent, copyright, trademark and trade secrets protection.

Key Highlights of report

The US topped this edition of list with total 37.98 points, followed by United Kingdom (37.97) and Sweden (37.03).  India has increased substantially its score this year. Its overall score has increased substantially from 25% (8.75 out of 35) in previous year to 30% (12.03 out of 40) in latest edition.

Despite improvement in score, India continues to remain towards bottom of ladder. India has demonstrated long-standing and clear commitment to increasing awareness of importance of IP rights and respect for creators and innovators. However, India has long way to go.

India’s ranking reflects relatively strong performance in new indicators as well as positive reform efforts on patentability of computer-implemented inventions (CIIs) and registration procedures for well-known marks. ‘Guidelines on the Examination of Computer-Related Inventions’ issued by India in July 2017 has significantly improved patentability environment for technological innovations.

India’s score continues to suggest that additional, meaningful reforms are needed to complement the policy. Among key areas of weaknesses are limited framework for protection of life sciences IP, lengthy pre-grant opposition proceedings, patentability requirements outside international standards, previously used compulsory licensing for commercial and nonemergency situations, limited participation in international IP treaties and no participation in international PPH (Patent Prosecution Highway) tracks.

Month: Categories: Business & Economy Current Affairs 2018

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India ranks 43rd out of 45 nations in 2017 International Intellectual Property Index

India ranked low 43rd among the surveyed 45 nations in 2017 International Intellectual Property Index (IIPI). In this edition, India is just above Pakistan (44th) and Venezuela (45th).

The fifth annual index was released by US Chamber of Commerce’s Global Intellectual Property Centre (GIPC) in its report titled ‘The Roots of Innovation’.

Key Facts
  • This year the index includes 90% of global gross domestic product (GDP) and seven new economies Egypt, Hungary, Kenya, Pakistan, Philippines, Saudi Arabia, and Spain were included.
  • India scored a meagre 8.75 out of a total of 35 points, falling significantly behind the median score of 15.39. Besides, the average score of India’s regional neighbours was 17.64.
  • This is for fifth consecutive year India has been ranked at the near bottom in the index. Last year, India was placed 37 out of 38 countries. India was ranked last or next-to-last in the previous four years.
  • Top 5 Countries in 2017 IIPI: United States (1st), United Kingdom (2nd), Germany (3rd), Japan (4th), Sweden (5th), France (6th), Switzerland (7th), Singapore (8th), South Korea (9th) and Italy (10th).
  • BRICS countries: China (27th), South Africa (33rd), Brazil (32nd) and Russia (23rd).
  • This year India has made some increment, but still has to do a lot more to build up a positive impression of its IPR policy with adequate legislative reforms required by innovators.
  • There was slight improvement in India’s overall scores in this edition mainly because of the inclusion of five new indicators in the index on which India performed very strong.

About International Intellectual Property Index (IIPI)

The index started in 2012 by USGIPC ranks countries based upon 35 parameters each having one point weightage. Some of the parameters are patents, copyrights, trademarks, trade secrets and market access, enforcement, and ratification of international treaties.

Month: Categories: Business & Economy Current Affairs 2018

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