India is making significant strides in the field of International Intellectual Property (IIP), with recent reports indicating an improvement in the overall International Intellectual Property (IIP) score from 38.4% to 38.6%. That places India at rank 43 among 55 countries according to the International Intellectual Property Index. The international intellectual property landscape is immense and intricate, dictating the pace of progress for many 21st-century economies. As such, India’s progress is a milestone worth highlighting.
Understanding the International Intellectual Property Index
The International Intellectual Property Index is an annual report meticulously compiled by the US Chambers of Commerce. It provides valuable insights into the intellectual property frameworks of over 53 global economies, representing more than 90% of the world’s Gross Domestic Product.
The 2020 edition of the index, aptly titled ‘Art of the Possible’, serves as a blueprint for economies striving to transition into knowledge-based powerhouses through robust intellectual property protection. The index evaluates an economy’s intellectual property framework using 50 unique indicators that were formulated with industry input. These indicators provide a comprehensive overview of an economy’s intellectual property ecosystem and span nine categories of protection. These include Patents, Copyrights, Trademarks, Design Rights, Trade Secrets, Commercialization of IP Assets, Enforcement, Systemic Efficiency, and Membership and Ratification of International Treaties.
About the US Chamber of Commerce
The US Chamber of Commerce, founded in April 1912, represents the interests of an impressive number of businesses worldwide. It caters to more than 3 million businesses across various sizes, sectors, and regions, as well as state and local chambers and industry associations. This federation was established at the behest of President William Howard Taft and his Secretary of Commerce and Labour Charles Nagel, owing its origins to local chambers of commerce.
The Role of Indian Government in Intellectual Property Rights (IPR) Protection
The Indian government has not been passive in the arena of Intellectual Property Rights (IPR) protection. Measures have been put in place to fortify IPR protection, including the implementation of the Indian Patent Act 1970 and the National Intellectual Property Rights (IPR) Policy 2016. Furthermore, India is a member of several critical World Intellectual Property Organisation (WIPO)-administered International Treaties and Conventions related to IPRs, which points towards its commitment to fostering an environment conducive to intellectual property growth.
It is evident that the landscape of international intellectual property is complex but pivotal to economic growth. As nations like India continue to improve their standings on global indices such as the International Intellectual Property Index, the future of knowledge-based economies appears promising.
