Innovators in India are doomed! India is the 2nd worst country for Intellectual Property laws!

The US Chamber of Commerce’s fourth annual International IP Index that measured the IP environment in India put the country in the second last spot.

The 4th annual International IP Index “Infinite Possibilities,” which also measured 37 other economies along with India stated that India’s score was largely unchanged.

The Index, produced by the Chamber’s Global Intellectual Property Center (GIPC), revealed that patent protection in India remains outside of international best practices, and Indian law does not provide adequate enforcement mechanisms to effectively combat online piracy.
The index was topped by the US and Venezuela finished last.

Overall, half of the 38 economies improved their total score from last year’s Index, indicating increased recognition of the benefits of intellectual property (IP) and a strong IP system.

David Hirschmann, president and CEO of GIPC, said, “While we have been encouraged by the Modi Administration’s rhetoric to improve India’s IP environment, we have yet to see it translate into concrete action. Nations like Thailand, who surpassed India in the rankings this year, provide an example of the way that incremental changes to a country’s IP framework can strengthen the overall IP ecosystem.”

“The Index was created so that countries around the world, such as India, can hear directly from the business community on the IP-related issues important to them when considering investing in new markets,” said Mark Elliot, executive vice president of GIPC.

The 38 economies listed in the index accounts for nearly 85% of global gross domestic product (GDP). The index is based on 30 measurable criteria critical to innovation including, patent, copyright and trademark protections, enforcement, and engagement in international treaties, among others.

The Index ranks the economies in Algeria, Argentina, Australia, Brazil, Brunei, Canada, Chile, China, Colombia, Ecuador, France, Germany, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, New Zealand, Nigeria, Peru, Poland, Russia, Singapore, South Africa, South Korea, Sweden, Switzerland, Taiwan, Thailand, Turkey, Ukraine, United Arab Emirates (UAE), United Kingdom (UK), United States (U.S.), Venezuela, and Vietnam.

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