International Intellectual Property Index 2021: India ranks 40 among 53 economies on 9th IP Index
India ranked 40th in 2020, scoring 38.4 out of 100 on a set of 50 intellectual property-related indicators.
India ranked 40 among 53 global economies on the latest International Intellectual Property (IP) Index that was released on March 23, 2021.
The annual Index, released by the US Chamber of Commerce Global Innovation Policy Centre (GIPC), evaluates the Intellectual Property rights in 53 global economies from patent and copyright policies to commercialisation of IP assets and ratification of international treaties.
This is the ninth Intellectual Property (IP) Index to be released by the Global Innovation Policy Centre.
What were the report findings?
The 2021 Index report titled “Recovery Through Ingenuity" showed improvement in the overall global IP environment in comparison to 2020 with positive score increasing in 32 of the 53 economies measured by the IP Index.
•The United States, Japan and Europe remained at the top of the global intellectual property rankings 2021, while emerging markets such as the UAE, China and Mexico continued to improve their scores.
•The 2021 Index showed improvement in the overall global IP environment despite the pandemic. The report also underscored the importance that strong IP economies have played in combating COVID-19.
•It also noted that transparent and predictable intellectual property rights helped foster unprecedented levels of highly successful public-private sector collaborations over the last year.
•The Index found that effective IP regimes enabled the development of therapeutics solutions to combat COVID-19 such as vaccines. The report noted that the vaccines were only able to be developed at unprecedented speed thanks to public-private partnership.
•It further stated that governments put their focus on distribution of the vaccine, IP will be critical to facilitating licensing and technology transfer while also expediting the manufacturing and delivery of vaccines and therapeutics.
India's performance in the IP Index
•India ranked 40th in 2020, scoring 38.4 out of 100 in 50 intellectual property-related indicators.
•India's overall score increased from 36.04 percent (16.22 out of 45) in the seventh edition to 38.46 percent (19.23 out of 50) in the eighth edition.
•According to the report, India has shown real improvement over the past few years, adding that it has made a string of positive efforts that have resulted in a score increase.
•India registered the second-highest growth over nine editions of the US Chamber Index among the BRICS nations with an overall improvement of over 13 percent.
Despite improvement, the rights-holders in India continue to face substantive challenges, especially when it comes to patenting environment, as India's current policy framework continues to deny patent eligibility to a broad range of innovations.
India needs to further strengthen the ecosystem for innovators and creators through reforms to clarify trade secrets protection, removal of bureaucratic barriers, and passage of clean Cinematographic Law amendments to protect Indian creative content.
The Intellectual Property (IP) Index evaluates the each economy's ecosystem based on 50 unique indicators which the industry believes represent economies with the most effective IP systems.
The IP Index serves as a roadmap for policymakers who look to support creativity, innovation and economic growth through more robust IP policy.