09 February 2017 Current Affairs: India ranked at 43rd position out of 45 countries in the 5th Annual International Intellectual Property (IP) Index of the US Chamber of Commerce (USCC). The 2017 International IP Index, named as 'The Roots of Innovation', was released on 8 February 2017.
India was ranked just above Pakistan and Venezuela. The United States continued to be on the top of the index. The top four positions of the index were fetched by the United States, United Kingdom, Japan and the European Union.
According to the report, the 45 countries, analysed in the index, represent nearly 90 per cent of the global Gross Domestic Product (GDP).
In 2016, India was placed at 37th position out of 38 countries.
The National IP policy cleared by the Union cabinet in May 2016 was considered as a positive measure for the index. However, the policy failed to address the fundamental weaknesses in India’s IP framework.
IP-intensive industries faced challenges on the patentability of computer-related inventions and Section 3(d) of India’s Patent Act, 1970 which relates to restrictions on patenting incremental changes.
A Delhi high court ruling that permitted photocopying of copyrighted material for educational purposes also featured among the factors that went against India.
International IP Index : The USCC's IP Index ranks countries on the basis of the points received on various aspects of patents, copyrights, trademarks, trade secrets and market access, enforcement and ratification of international treaties.
The Global Intellectual Property Centre of the USCC works around the world to examine the Intellectual Property (IP) rights and their role in creating jobs, saving lives, advancing global economic growth, etc.
The fifth edition of the index included seven new countries – Egypt, Hungary, Kenya, Pakistan, the Philippines, Saudi Arabia and Spain.