Daily Current affairs
India ranks abysmally at 43rd out of 45 countries in a global innovation index, according to a report released by US Chambers of Commerce which cited the countrys "anemic" Intellectual Property Rights (IPR) policy and patent act as challenges to innovation.
In the 5th annual International IP Index The Roots of Innovation by US Chamber of Commerces Global Intellectual Property Center (GIPC), there is slight improvement in India?s performance; it was ranked last or next-to-last in the previous four years."In India, many of the same challenges to innovation remain," said David Hirschmann, president and CEO of GIPC.
India has 8.4 score as against Americas 32.6 which tops the list of 45 countries.
The United States is followed by United Kingdom (32.4), Germany (31.9), Japan (31.3) and Sweden (31).China has 14.83 points. Neighbouring Pakistan ranks 44th with 8.37 score."Although India has made incremental progress, the government needs to build upon the positive rhetoric of its IPR policy with the substantial legislative reforms that innovators need," he said.
Hirschmann said reforms can improve its reputation as a destination for doing business, foreign businesses ability to invest in and Make in India, and Indias 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, such as software patentability, life sciences patents, copyright protection and enforcement, and trade secrets protection," Hirschmann said.In a statement, US Chambers of Commerce said in addition to its anemic Intellectual Property Rights (IPR) policy, the report cited challenges with the scope of patentability for computer-implemented inventions, Section 3(D) of the Indian Patent Act and the recent High Court of Delhi decision regarding photocopying copyrighted content.
The report said the slight improvement in India?s overall scores is largely because of a relatively strong performance on the five new indicators included in the Index and not from any actual improvements to their national IP environments.