Lack of IP reforms hurts business

The Index showed that India continues to rank near the bottom of the pack for a fifth year in a row, coming in 43rd place out of 45 countries. The report includes 90 per cent of global gross domestic product (GDP) and grades countries on patents, trademarks, copyright, trade secrets, enforcement, and international treaties. 

“In India, many of the same challenges to innovation remain,” said David Hirschmann, president and CEO of GIPC. “Although India has made incremental progress, the Centre needs to build upon the positive rhetoric of its IPR policy with the substantial legislative reforms that innovators need. Reforms can improve its reputation as a destination for doing business, foreign businesses’ ability to invest in and “Make in India,” and India’s own innovative industries. If Indian policymakers wish to deliver the kinds of results the Modi administration once hoped for, they can act to address issues that impact Indian innovation, viz software patentability, life sciences patents, copyright protection and enforcement, and trade secrets protection.”  

The 2017 Index represents  India’s slight improvement in India’s performance; it was ranked last or next-to-last in the previous four years.