India ranked 40th in 2020, scoring 38.4 out of 100 on a set of 50 intellectual property-related indicators, said the US Chamber of Commerce Global Innovation Policy Center (GIPC), which released its ninth annual International IP Index Recovery Through Ingenuity highlighting the extraordinary role of intellectual property (IP) rights in discovering and delivering pandemic solutions.
The new report evaluated IP rights in 53 global economies — from patent and copyright policies to commercialization of IP assets and rszatification of international treaties.
India has been included in all nine editions of the International IP Index, and their score has improved more than 13% over time, said the Chamber.
The overall global IP environment improved in 2020, with positive score increases in 32 of the 53 economies measured by the IP Index.
“As one of the world’s most innovative and creative economies, a unified intellectual property (IP) framework supports India’s competitiveness. This is especially true for many of India’s most highly regarded sectors, including advanced manufacturing, biopharmaceutical products, and creative content. Among BRICS nations, India registered the second-highest growth over nine editions of the US Chamber Index hit years with an overall improvement of over 13%,” said Patrick Kilbride, senior vice president of GIPC at the Chamber.
He added that India should build upon the momentum.
“We encourage the Government of India to build upon the positive momentum of the last nine years to address areas where challenges remain. The ecosystem for innovators and creators could be further strengthened through reforms to clarify trade secrets protection, the removal of bureaucratic barriers, and the passage of clean Cinematographic Law amendments to protect Indian creative content,” he said.