India’s Position Maintained at 42nd on International IP Index 2024

Utkarsh Classes Last Updated 28-02-2024

India’s Position Maintained at 42nd on International IP Index 2024

Report 5 min read

India has retained its 42nd position on the International IP Index in 2024, which indicates consistency in its intellectual property regime score at 38.64%, the same as in 2022.

This information was revealed in a comprehensive report by the US Chamber of Commerce, which evaluated the intellectual property infrastructures of 55 countries.
The report highlights the strengths and weaknesses of India's IP landscape, indicating that the USA, UK, France, Germany, and Sweden are leading the pack. The report also highlights critical areas where India needs significant improvement.

Challenges and Strengths in India's IP Regime

There are concerns about India's intellectual property (IP) regime due to the dissolution of the Intellectual Property Appellate Board in 2021 and an under-resourced judiciary. This has raised alarms about the enforcement of IP rights and the resolution of IP-related disputes in the country.
However, there have been some positive developments, including the Cinematograph (Amendment) Bill 2023, which aims to curb film piracy, and streamlined processes introduced in 2020.
These steps highlight India's commitment to improving its IP framework, despite the challenges it currently faces.

Policy Recommendations

The International IP Index 2024 highlighted a positive global trend towards improving IP policies. Countries such as Saudi Arabia, Brazil, and Nigeria have made notable advancements in this regard.
However, the report criticized the lack of significant progress among top-ranked economies.
It underscored the necessity for the USA and EU to reclaim their leadership in global IP policy. Additionally, the report warned against counterproductive measures like IP waivers for COVID-19 treatments, suggesting that such actions could undermine future IP advancements.

Implications for India and the Global IP Landscape

India's ranking on the International IP Index has remained unchanged, indicating a consistent score in the realm of intellectual property rights.
However, this reflects a more significant global trend of both progress and stagnation. As the world navigates the complexities of IP policy in the post-pandemic era, India's journey highlights the critical balance required to foster innovation while ensuring robust IP protection mechanisms.
The US and EU have called for renewed leadership in IP policy, emphasizing the evolving dynamics of global IP governance and the need for comprehensive and coherent strategies to sustain innovation and economic growth.

What is IPR?

Intellectual property rights (IPR) are legal rights granted to inventors or creators to safeguard their inventions or creations for a specific period of time. These legal rights grant the inventor or their assignee the exclusive right to use their invention for a specific period of time.