India has slipped to 40th position on the International Intellectual Property (IP) Index, 2020 from the 36th position in 2019. It is released by the US Chamber of Commerce’s Global Innovation Policy Center. The US, the UK, France, Germany, and Sweden are the top five economies on the IP Index in 2020.
India’s rank has slipped despite the government’s focused effort to support investments in innovation and creativity through increasingly robust IP protection and enforcement, since the release of the National Intellectual Property Rights (IPR) Policy, 2016. It encompasses and brings to a single platform all IPRs, taking into account all inter-linkages and thus aims to create and exploit synergies between all forms of intellectual property (IP), concerned statutes and agencies. Its implementation has improved the speed of processing for patent and trademark applications and increased awareness of IP rights among Indian innovators and creators.
US Chamber of Commerce:-
It is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. The 2020 U.S. Chamber International IP Index titled ‘Art of the Possible’ creates a template for economies that aspire to become the 21st century, knowledge-based economies through more effective IP protection. In its eighth edition, the Index maps the IP ecosystem in 53 global economies, representing over 90% of global GDP. The Index evaluates the IP framework in each economy across 50 unique indicators which industry believes represent economies with the most effective IP systems. The indicators create a snapshot of an economy’s overall IP ecosystem and span nine categories of protection: patents, copyrights, trademarks, design rights, trade secrets, commercialization of IP assets, enforcement, systemic efficiency, and membership and ratification of international treaties.
Source: Financial Express