India improves on US chamber’s International IP Index

New Delhi, March 24 (SocialNews.XYZ) India has improved its position on the ninth edition of the US Chamber of Commerce's International IP Index as it ranks 40th among 53 countries.

The US Chamber of Commerce's Global Innovation Policy Center (GIPC) has released its ninth annual International IP Index, evaluating IP rights in 53 economies, from patent and copyright policies to commercialisation of IP assets and ratification of international treaties.

"The overall global IP environment improved in 2020, with positive score increases in 32 of the 53 economies measured by the IP Index. India ranked 40th in 2020, scoring 38.4 out of 100 on a set of 50 intellectual property-related indicators," said a statement.

"As one of the world's most innovative and creative economies, a unified intellectual property (IP) framework supports India's competitiveness. This is especially true for many of India's most highly regarded sectors, including advanced manufacturing, biopharmaceutical products, and creative content," said Patrick Kilbride, Senior Vice President of the GIPC.

India registered the second-highest growth among the BRICS nations.

"We encourage the Government of India to build upon the positive momentum of the last nine years to address areas where challenges remain. The ecosystem for innovators and creators could be further strengthened through reforms to clarify trade secrets protection, the removal of bureaucratic barriers, and the passage of clean Cinematographic Law amendments to protect Indian creative content," said Kilbride.

Source: IANS