India has been ranked 42nd out of 55 countries in the US Chamber of Commerce’s latest International IP Index report. The US has topped in index.
Evaluation criteria
- The annual International IP Index evaluates the protection of IP rights in 55 of the world’s leading economies, together representing around 90% of global GDP. The Index benchmarks the IP framework in 55 global economies across 50 unique indicators.
- It covers everything from patent and copyright laws to the ability to monetise IP assets and the ratification of international agreements.
- By analysing the IP landscape in global markets, the index aims to help nations navigate toward a brighter economic future marked by greater innovation, creativity, and competitiveness.
India: steps taken
- India has taken steps to improve enforcement against copyright-infringing content and provides a best-in-class framework to promote better understanding and utilisation of IP assets.
India: weak points
- Addressing long-standing gaps in its IP framework will be critical to India’s ability to creating a new model for the region and India’s continued economic growth.
- Among India’s key areas of weakness are the 2021 dissolution of the IP Appellate Board, combined with the longstanding issue of an under-resourced and overstretched judiciary, which raises serious concerns about rights holders’ ability to enforce their IP rights in India and to resolve IP-related disputes.
- Limited framework for the protection of biopharmaceutical IP rights and patentability requirements which are outside international standards are the other weaknesses.
India: bright spots
- India continued strong efforts in copyright piracy through the issuing of “dynamic” injunction orders; the 2019 precedent case law on online trademark infringement and damages; and generous R&D and IP-based tax incentives.
