India has improved its overall IP score from 38.4 per cent to 38.6 per cent, and the country is ranked 43 out of 55 countries on the International Intellectual Property Index, according to an annual report compiled by the influential US Chambers of Commerce on Thursday.
India's overall score has increased from 38.40 percent (19.20 out of 50) in the ninth edition to 38.64 percent (19.32 out of 50) in the 10th edition. This reflects a score increase on indicator 32, said the report Global Innovation Policy Center of the US Chambers of Commerce.
Overall, India is ranked 43 out of 55 countries in the International IP Index.
In July 2021, the Parliamentary Standing Committee on Commerce released a Review of the Intellectual Property Rights Regime in India. This review is a welcome development and offers a comprehensive and detailed study of the strengths and weaknesses of India's national IP environment, the report said.
It is the first major attempt at assessing the state of India's IP policy regime since 2016 and the National Intellectual Property Rights Policy, the chamber said.
According to the report, innovators and creators are constantly competing to deliver the best and brightest tomorrow.
They're racing to create the solutions we need to address critical global challenges, like public health, cultural development, environmental sustainability, and economic disparities. Intellectual property (IP) policies can spur innovators and creators or stop them altogether, it said.
Governments must make a choice: They can embrace dangerous policies to roll back international and domestic IP protections and deprive their economies of the many benefits strong IP ecosystems provide. Or, they can make conscious policy decisions to invest in their IP framework until every individual with an idea has a fair shot at the competition for leadership, success, and, ultimately, tomorrow, the report said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU