India improves its rankings in the International IP Index
[GS Paper 3 – Intellectual Property RIghts (IPR) and related issues]
India has improved its overall IP score from 38.4% to 38.6%, and the country is ranked 43 out of 55 countries on the International Intellectual Property Index, according to an annual report compiled by the influential US Chambers of Commerce.
India’s overall score has increased from 38.40 percent (19.20 out of 50) in the ninth edition to 38.64 percent (19.32 out of 50) in the 10th edition. This reflects a score increase on indicator 32.
About International IP Index
It is the Index which encompasses and brings to a single platform all IPRs, taking into account all inter-linkages and thus aims to create and exploit synergies between all forms of intellectual property (IP), concerned statutes and agencies.
Its implementation has improved the speed of processing for patent and trademark applications and increased awareness of IP rights among Indian innovators and creators.
The Index evaluates the IP framework in each economy across 50 unique indicators which industry believes represent economies with the most effective IP systems. The indicators create a snapshot of an economy’s overall IP ecosystem and span nine categories of protection: patents, copyrights, trademarks, design rights, trade secrets, commercialization of IP assets, enforcement, systemic efficiency, and membership and ratification of international treaties.
About US Chamber of Commerce
It is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. It also advocates policies that help in growing the economy of businesses and their job creation.
USCC was founded in the year 1912 and is located in Washington D.C. Suzanne P. Clark is the CEO of this organization.
The USCC’s principal institution is the GIPC and handles all the issues which are related to creativity and innovation by advocating strong standards of intellectual property. The GIPC is working to promote creativity and innovation across the globe through intellectual property standards that save lives, create jobs, cultural prosperity, and advance the global economy.
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