India ranks 42nd out of 55 nations in global IP index

India ranks 42nd among 55 leading global economies on the International Intellectual Property (IP) Index released by the US Chambers of Commerce, according to which India is ripe to become a leader for emerging markets seeking to transform their economy through IP-driven innovation.“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,” Patrick Kilbride, senior vice president of the US Chamber of Commerce Global Innovation Policy Center who publishes the annual report said Friday. According to the report, which covers everything from patent and copyright laws to the ability to monetize IP assets and the ratification of international agreements, India has maintained continued strong efforts in copyright piracy through the issuing of “dynamic” injunction orders.

Among India’s key areas of weakness are the 2021 dissolution of the IP Appellate Board, combined with the longstanding issue of an under-resourced and overstretched judiciary, which raises serious concerns about rights holders’ ability to enforce their IP rights in India and to resolve IP-related disputes.The annual International IP Index evaluates the protection of IP rights in 55 of the world’s leading economies, together representing around 90% 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. Limited framework for the protection of biopharmaceutical IP rights and patentability requirements which are outside international standards are the other weaknesses.