India’s IP Regime drastically improved: International IP Index Report 2019


Avi Kapoor 12/02/19 #copyright #patent #trademark #brandprotection #intellectualproperty #Innovate #news #newsupdate #topnews #world #headlines #breakingnews #latestnews #trending #hotnews #blogging #education #educationalblog #us #ipenforcement #uk #wipo #japan #ip

As per the previous International Intellectual Property Index Report of 2018, India ranked 44 out of 50 countries. However, as per the latest International Intellectual Property Index Report 2019 published by the US Chambers of Commerce, India has moved eight places up to rank 36. This is due to the alignment of India's IP system with the international IP system. This is defined as a real accomplishment regarding the country's patenting and IP enforcement environments.

This increase in ranking is due to the specific reforms which align India's IP with the International IP system. This includes India’s accession to the WIPO Internet Treaties, WIPO Internet treaties was an agreement which India entered into to Initiate the Patent Prosecution Highway with Japan. India has come up with dedicated IP Incentives for the small businesses; further to address the backlogs in IP Applications/ Registrations administrative reforms have been introduced. Starting from 2014, India has gradually improved its ranking in the International Intellectual Property Index Report. Among the major global economies, the report stated that the "most substantial movement can be seen from India, which has surged almost 20 per cent".

Among the 50 global economies, US tops the list followed by the United Kingdom, Sweden and Germany. Alongside India, China also achieved 25th rank in the list. In recent years, India has taken multiple initiatives to improve the overall national IP environment. Further, a lot of time has been invested to decrease the pendency rates for Trademark/ Patent applications, to address this issue more effectively more staff has been hired & more resources have been introduced to upgrade and modernise the capabilities.

In India, the application backlog for Patents, Trademarks and Copyrights had been reduced.  A strong IP system encourages & promotes innovation along with creativity which results in encouragement of talent and growth competing at the highest levels. However, substantial challenges still exist regarding India’s patenting and IP enforcement environments.

 

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