In the most recent International IP Index study from the US Chamber of Commerce, India came in at number 42 out of 55 nations.
The yearly International IP Index assesses the enforcement of intellectual property rights in 55 of the most developed nations, which collectively account for 90% of global GDP.
The paper covers a wide range of topics, including international agreement ratification, patent and copyright regulations, as well as the capacity to monetize IP assets.
The research demonstrates how numerous domestic and foreign measures threaten to weaken intellectual property (IP) rights.
According to a press release, the index seeks to guide countries towards an economic future characterised by higher innovation, creativity, and competitiveness by examining the IP landscape in international marketplaces.
A flood of proposals being considered by US and foreign policymakers, particularly at multilateral organisations, threatens to undermine hard-won economic advantages after a decade of steady, incremental development in IP systems around the world, the research claims.
“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 Global Innovation Policy Center that 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 utilisation of IP assets. However, addressing 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.
The 2021 dissolution of the IP Appellate Board
The 2021 dissolution of the IP Appellate Board, along with the ongoing problem of an under-resourced and overworked judiciary, are among India’s main areas of weakness. This raises serious concerns about the ability of rights holders to enforce their IP rights in India and to resolve IP-related disputes.
The framework for protecting biopharmaceutical intellectual property rights is limited, and the patentability requirements do not follow international standards.
Yet the research also identified some promising signs. A few of these are the 2019 landmark case law on online trademark infringement and damages, the continuation of vigorous efforts in copyright piracy through the issuance of “dynamic” injunction orders, and hefty R&D and IP-based tax incentives.