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India slips to 43rd rank in US Chamber of Commerce's IPR index
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IANS | 24 Feb, 2023
India has slipped to the 43rd spot in the US Chamber of Commerce's
latest International Intellectual Property Rights index.
India is ranked 43rd out of 55 countries for 2022. It was ranked 40th in the index in 2021.
The
index was launched by the US Chamber of Commerce's Global Innovation
Policy Centre and is closely monitored by the Indian government.
The
index has said in its finding that a torrent of proposals - both
domestic and international - are threatening to erode intellectual
property (IP) rights.
The annual international IP index evaluates
the protection of IP rights in 55 of the world's leading economies,
together representing approximately 90 per cent of global GDP.
The
report 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.
"As India's size and
economic influence grows on the world stage, India is ripe to become a
leader for emerging markets seeking to transform their economy through
IP-driven innovation," said Patrick Kilbride, senior vice president of
the US Chamber of Commerce's Global Innovation Policy Center, which
publishes the annual report.
"India has taken steps to improve
enforcement against copyright-infringing content and provides a
best-in-class framework to promote better understanding and utilization
of IP assets. However, address 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," Kilbride said.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
84.35
|
82.60 |
UK Pound
|
106.35
|
102.90 |
Euro
|
92.50
|
89.35 |
Japanese
Yen |
55.05 |
53.40 |
As on 12 Oct, 2024 |
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