• India has climbed eight places in the latest annual International Intellectual Property (IP) Index released by the US Chambers of Commerce to reach 36th place out of 50 countries, climbing from 44th rank in the index last year.
• The International Intellectual Property Index 2019 released on Thursday by the US Chambers’ Global Innovation Policy Center (GIPC) said that although India’s improvement is a “real accomplishment”, substantial challenges persist, particularly on the country’s patenting and IP enforcement environments.
Key highlights of the report
• The report said that the rise in India’s ranking is a result of specific reforms that better align India’s IP environment with the international IP system, including its accession to the World Intellectual Property Organization (WIPO) Internet Treaties.
• The agreement to initiate a Patent Prosecution Highway (PPH) with Japan, a dedicated set of IP incentives for small businesses, and administrative reforms to address the patent backlog.
• The US tops the list of 50 global economies with 42.66 points out of 45, followed by the UK (42.22), Sweden (41.03) and Germany (41.00).
• India’s overall score has increased from 30.07 per cent (12.03 points out of 40) last year to 36.04 per cent (16.22 points out of 45) in the latest edition.
• India has taken several noteworthy steps to improve its IP system in 2018 and also performed well on the new indicators included in the Index this year.
• It also said India continues to face substantial challenges, particularly in respect of patenting and IP enforcement environments.
• India also invested considerable energy into reducing pendency rates for patent and trademark applications, it said.
Mains Paper 3: Economy
Prelims level: International Intellectual Property Index
Mains level: Expected outcomes from the IIP