India’s eight-point jump in 2019 from 44th position in 2018 is the highest increase among 50 nations mapped by the index, a release said.
Source: The Economic Times
The US, the UK, Sweden, France and Germany remained the top five economies on the intellectual property index in 2019 retaining their spots from the last year.
The index brought out by the US Chamber of Commerce’s Global Innovation Policy Center (GIPC) ranks countries based on 45 indicators that are critical to an innovation-led economy supported by robust patent, trademark, copyright, and trade secrets protection.
“The improvement reflects important reforms implemented by Indian policy-makers towards building and sustaining an innovation ecosystem for domestic entrepreneurs and foreign investors alike,” the release said.
India’s overall score has also increased substantially from 30.07 per cent (12.03 out of 40) in the previous edition to 36.04 per cent (16.22 out of 45) in the present edition.
“For the second year in a row, India’s score represents the largest gain of any country measured on the Index, which covers over 90 per cent of global gross domestic product,” said Patrick Kilbride, senior vice president of GIPC.
The US Chamber International IP Index provides an IP report card for the world and a blueprint for policy-makers in countries like India that wish to bolster economic growth and jobs, innovation, and creativity.