International IP Index

In news– The US Chambers of Commerce Global Innovation Policy Center has released the International IP Index recently.

Key highlights of the index-

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.
Following a decade of steady, incremental, improvement in IP systems worldwide, a deluge of proposals under consideration by US and international policy leaders, including at multilateral organisations, threatens to compromise hard-won economic gains.
It covers everything from patent and copyright laws to the ability to monetize IP assets and the ratification of international agreements.
It evaluates the protection of IP rights in 55 of the world’s leading economies, together representing around 90% of global GDP.
By analysing the IP landscape in global markets, the index claims that its aims are to help nations navigate toward a brighter economic future marked by greater innovation, creativity and competitiveness.
Economies of all levels of development— including the EU, UK, India, Singapore, Russia, and India—have utilized injunctive-style relief to disable access to infringing content.
According to the index, Asia had the greatest improvement in the regional average score as a result of score improvements in Malaysia and Singapore, in addition to Thailand and Vietnam.
Morocco and Thailand at 2.5% each and Vietnam at 2.02% had the largest improvements in their overall score.

India’s ranking-

According to the Index India is ripe to become a leader for emerging markets seeking to transform their economy through IP-driven innovation.
India has been ranked 42nd out of 55 countries in the index.
It said that India not only has generous R&D and IP-based tax incentives, but also has a strong awareness-raising efforts regarding the negative impact of piracy and counterfeiting.
It is a global leader on targeted administrative incentives for the creation and use of IP assets for SMEs.
However, the report said the 2021 dissolution of the Intellectual Property Appellate Board, combined with the long standing issue of an under-resourced and overstretched judiciary, raises serious concerns about rights holders’ ability to enforce their IP rights in India and to resolve IP-related disputes.