India stands at 40th place out of 53 economies in global IP Index 2020, released on Wednesday, as against 36th place out of 50 economies in the 2019 Index.
Reflecting the country’s growing investment in intellectual property (IP)-driven innovation, India’s overall score has increased to 38.46% in the International IP Index 2020 by Global Innovation Policy Center (GIPC) of the US Chamber of Commerce. The country’s score was at 36.04% in the 2019 Index. The US tops the scorecard with 95.28% out of an 100% scale, while the UK (93.92%), France (91.50%), Germany (91.08%), Sweden (90.56%) and Japan (90.40%) follow closely.
India stands at 40th place out of 53 economies in global IP Index 2020, released on Wednesday, as against 36th place out of 50 economies in the 2019 Index. In the eighth edition, the US Chamber International IP Index ranked 53 global economies, representing over 90% of global GDP, including India, on 50 IP-specific indicators.
In this latest Index, the review has found that India has embraced a series of reforms and issued court rules that strengthen IP enforcement, address administrative inefficiencies and increase penalties for IP infringement.
The 2020 index includes three new countries — Dominican Republic, Greece, and Kuwait — and five new indicators, meaning that a focus on India’s relative score increase of 6.71% best reflects the positive momentum on IP in India, according to official sources at the GIPC.
The index has reported that India’s key areas of strength in IP domain include continued strong efforts to combat copyright piracy through 2019 by issuing of dynamic injunction orders, precedent-setting case law on online trademark infringement and damages, new pilot patent prosecution highway (PPH) programme and generous R&D along with IP-based incentives.
India remained a global leader on targeted administrative incentives for the creation and use of IP assets for SMEs while the country’s strong awareness-raising efforts on the negative impact of piracy and counterfeiting have made a mark in the overall IP spectrum.
Sources said since the release of the 2016 National IPR Policy, the Indian government had made a focused effort to support investments in innovation and creativity through increasingly robust IP protection and enforcement.
Implementation of the policy has resulted in improving rates of patent and trademark pendency, greater awareness of IP rights among Indian innovators. The index, however, points out that serious hurdles remain — particularly in terms of patent eligibility and enforcement. Besides, compulsory licensing in the case of pharma companies, patent opposition and regulatory data protection are the main challenges faced by the country, they said.