India has ranked 37 out of 38 countries for its intellectual property rights environment in the annual IP index released by the United States Chamber of Commerce (USCC) with only Venezuela scoring lower. The report comes at a time when the government is close to finalizing a National Intellectual Property policy to improve the IP regime and increase IP awareness.
These 38 countries bench marked in the 2016 index accounts for nearly 85% of the global GDP. Venezuela ranked lowest below India at 38th position with 6.42 points on the index. This index is based on six key parameters like rights and limitations of the patent, copyright and trademark regimes, trade secrets, enforcement and ratification of international treaties.
In this edition of IP Index, India has scored a low 7.0 out of maximum 30 points. Top 10 Countries are US (28.6 score), UK (27.5), Germany (27.4), France (27.2), Sweden (27.1), Singapore (25.6), Switzerland (24.9), Australia (24.8), Japan (23.3) and South Korea (23.3). The reason behind the India’s lower ranking is Patent protection in India remains outside of international best practices. Indian laws do not provide adequate enforcement mechanisms to combat online piracy effectively.
The Index produced by the Chamber’s Global Intellectual Property Center (GIPC) is based on 30 criteria critical to innovation including patent, copyright and trademark protections, enforcement, and engagement in international treaties, the Chamber said. India remains at the bottom of the Index for the fourth year in a row, the GIPC report said.
“The Index was created so that countries such as India can hear directly from the business community on the IP-related issues important to them when considering investing in new markets,” said Mark Elliot, executive vice president of GIPC. The report said Brazil, China, India, Indonesia, and Russia introduced or maintained policies that tie market access to sharing of IP and technology. Such forced-localization policies tend to undermine the overall innovation ecosystem and deter investment from foreign IP-intensive entities, it said.