Washington, Feb 4, 2015: After being ranked last for consecutive two years, India has now moved up 1 position to 29th on protection and enforcement of intellectual property practices, a US Chamber of Commerce report said today.
While the US tops the list of 30 countries, only Thailand is behind India. Surprisingly, Vietnam, Nigeria, South Africa, China and Russia are ranked above India in the third International IP Index released by the US Chamber of Commerce's Global Intellectual Property Centre (GIPC).
According to the report, Indias overall score has improved from previous editions with a score of 7.23, while the US which tops the list has a score of 28.53 The report also appreciates steps taken by the Narendra Modi Government in addressing the concerns of international community with regard to intellectual property rights.
"Indias performance signals measurable and sustainable progression. While still posing significant challenges to rights holders across the board; India has improved its score and performance," the report said.
The report said the Modi Governments national intellectual property rights (IPR) think-tank recently released the Draft National IPR Policy, which recognised the fundamental links between IP, innovation and the successful development of innovative products.
Additionally, the formation of a high-level IP working group as part of the Trade Policy Forum has the potential to elicit measurable and sustainable changes to Indias IP system, the report said. It also raised concerns it has with India on a number of intellectual property (IP) issues.
"Indias patentability requirements remain outside established international best practices; there is a lack of specific IP rights for the life sciences sector," the report said, adding that a challenging enforcement environment, with corresponding high levels of physical and online piracy, persists in India.
"India is not a contracting party to any of the international treaties included in the GIPC Index, nor has India concluded an FTA with substantial IP provisions since acceding to the TRIPS Agreement," the report said.
Three major US companies Boeing, Abbott and Honeywell in May last year had, however, supported Indias IPR regime. Aviation major Boeing had said India had a strong legal framework to protect such rights.
Pharma company Abbott had stated that it was "not currently facing any significant challenges with respect to intellectual property protection in India". India too has consistently maintained that its IPR regime is in compliant with global rules.