The latest annual edition of the International Intellectual Property (IP) Index has been released on March 23. India has been ranked 40th among 53 global economies on the index.
Key Points
- The International Intellectual Property (IP) Index is released annually by the US Chamber of Commerce Global Innovation Policy Centre (GIPC).
- The IP Index evaluates Intellectual Property rights in 53 global economies from patent and copyright policies to commercialization of IP assets and ratification of international treaties.
- This was the ninth IP index released by the GIPC.
- The overall global IP environment has improved in the year 2020. As per the index, the positive score has increased in 32 of the 53 economies measured by the IP Index.
- India has been ranked 40th in 2020 with a score of 38.4 out of 100 on a set of 50 intellectual property-related indicators.
- The overall score of India has increased from 36.04% (16.22 out of 45) in the seventh edition to 38.46 percent (19.23 out of 50) in the eighth edition.
- As per the report, India has shown improvement over the last few years. India has made various positive efforts which resulted in a score increase because of stronger enforcement efforts and precedent-setting court cases involving copyright and trademark infringement.
- 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 percent.
The 2021 Index illustrates that economies with the most effective IP frameworks are more likely to achieve the socio-economic benefits needed to combat COVID-19, including greater access to venture capital, increased private sector investment in research and development, and over 10 times more clinical trial activity.
Last Modified: February 11, 2024