The US Chamber of Commerce has ranked India 36th amongst 50 nations in 2019 in its global intellectual property (IP) index, moving the country up by eight places. “The improvement reflects important reforms implemented by Indian policy makers toward building and sustaining an innovation ecosystem for domestic entrepreneurs and foreign investors alike,” it said.
The report card was recently released by the chamber’s Global Innovation Policy Centre (GIPC), according to a report. “The reforms that helped improve India’s ranking include its accession to the WIPO Internet Treaties, the agreement to initiate a Patent Prosecution Highway with international offices, a dedicated set of IP incentives for small business and administrative reforms,” said Patrick Kilbride, Senior Vice President of GIPC.
The key problems in India include barriers to licensing and technology transfer, strict registration requirements, limited framework for the protection of biopharmaceutical IP rights, patentability requirements outside international standards, lengthy pre-grant opposition proceedings and previously used compulsory licensing for commercial and non-emergency situations, according to the GIPC report.
While the report suggests that India’s patent rules are over and above global norms, New Delhi has been steadily refuting it by stressing that it is in strict adherence to World Trade Organisation’s TRIPS mandate. The report ranks economies based on 45 indicators covering patent, trademark, copyright and trade secrets protection.