India ranks 40th on International Intellectual Property Index

India ranked 40 among 53 global economies on the latest annual edition of the International Intellectual Property (IP) Index released. The US Chamber of Commerce Global Innovation Policy Centre (GIPC), the Index evaluates Intellectual Property rights in 53 global economies from patent and copyright policies to commercialisation of IP assets and ratification of international treaties.

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About the International Intellectual Property Index 2021:

• 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.
• Over the last year, transparent and predictable intellectual property rights have also fostered unprecedented levels of highly successful public-private sector collaborations.
• The overall global IP environment improved in 2020, with a positive score increasing in 32 of the 53 economies measured by the IP Index. This is the ninth IP index released by the GIPC.

Important takeaways for all competitive exams: