The US Chamber of Commerce’s Global Innovation Policy Center releases the International Intellectual Property (IP) Index every year. We are proud and delighted to report that India has ascended eight places on the International Intellectual Property (IP) Index this year.
Our Country has the highest gain for any country on the Index as it has shot upto the 36th position. The Index assesses the Intellectual Property regimes and developments in 50 global economies. While, the US, the UK, Sweden, France and Germany hold the top 5 positions since the last 2 years, India’s progress on the Index list from rank 44th in 2018 to rank 36th this year is the highest among all the 50 participating nations mapped by the Index.
There are around 45 parameters/ indicators based on innovativeness and the national IP climate which are critically analysed for ranking a country on the Index. It has been reported that India’s overall score has increased substantially from 30.07% (12.03 out of 40) in the 6th edition to 36.04% (16.22 out of 45) in the 7th edition.
India’s accession to the WIPO Internet Treaties, the agreement to initiate a Patent Prosecution Highway (PPH) with international offices, providing IP incentives through governments programs such as Startup101, Make in India, etc. for budding business and its efforts towards streamlining and digitizing the IP filing and prosecution process has reflected in this rank jump that we should all be proud of.
Source: Mondaq
Image Courtesy: LAPPEngineering
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