India Improves its Global IP Index to Reach at 44

The US Chamber of Commerce Global Policy Innovation Centre unveiled its sixth annual international IP index termed "Create." The index analyses the intellectual property climate in 50 world economies based on 40 unique indicators standardised on the basis of innovation development surrounding trademarks, patents, copyright and trade secrets protection. This edition showed that India has improved on its performance both in relative and absolute terms by ranking 44 out of 50 world economies, which was 43rd out of 45 economies - one year ago it.

It was the first time when India broke free of the bottom 10% of the economies and the score is the highest improvement based on all the factors taken into account. India has improved more than all the other countries that have been measured. This index sure was a good measure of the country being on the move. Here are some factors which might have contributed to this achievement:

• Patentability environment for innovations in technology
• IP awareness and coordination programs
• Improvising on 2016 National IPR policy
• Getting protection for well-known marks

 There are some additional reforms that we are still looking forward to in order to attract foreign investors, improve access to innovation and provide incentives for domestic innovation. Here are some other countries that were in the list including Algeria, Argentina, Australia, Brazil, Brunei, Canada, Chile, China, Colombia, Costa Rica, Ecuador, Egypt, France, Germany, Hungary, Indonesia, Ireland, Israel, Italy, Japan and others.

By: Neha Maheshwari

Content: https://economictimes.indiatimes.com/news/economy/indicators/india-ranks-44-out-of-50-nations-in-global-ip-index/articleshow/62831661.cms