India moves up to the 36th position on the International Intellectual Property (IP) Index, recently released by the Global Innovation Policy Center (GIPC) of U.S. Chamber of Commerce
India marked a substantial progress jumping eight places in the International IP Index with the overall rank increasing from 30.07 percent in 2018 to 36.04 percent in 2019. The Global Innovation Policy Center (GIPC) of U.S. Chamber of Commerce, on February 7, released the 8th edition of International Intellectual Property Index, “Inspiring Tomorrow.”
Noting the improvement made by India, the U.S. Chamber of Commerce commented, “The improvement reflects important reforms implemented by Indian policymakers toward building and sustaining an innovation ecosystem for domestic entrepreneurs and foreign investors alike”. The Senior Vice President of GIPC, Patrick Kilbride also said, “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.”
The United States topped the Index with 42.66 points, followed by the United Kingdom (42.22) at 2nd position. The third and fourth positions were grabbed by Sweden (41.03) and Germany (41.00), respectively.
The U.S. Chamber of Commerce releases the official document of International Intellectual Property Index every year, ranking 50 significant economies around the world, which represents 90% of world GDP. The rankings are given on the basis of 45 unique indicators across different sectors and categories related robust patent, trademark, copyright, and trade secrets protection.