Bengaluru, Feb 10 (ANS) India is ranked 37th or second last in the international IP (intellectual property) index by the US Chamber of Commerce, it was announced on Wednesday.
"India's score is unchanged as patent protection remains outside of international best practices, and its law does not provide enforcement mechanisms to combat online piracy," the chamber said in a statement.
The US ranked first and Venezuela last after India in the "Infinite Possibilities" index, which measures the IP environment in the country alongside 37 other economies.
The index, produced by the chamber's global intellectual property centre (GIPC), says half of the 38 economies improved their score from last year, indicating increased recognition of benefits of IP and a strong IP system.
The 38 economies benchmarked in the 2016 index account for 85 percent of global GDP as it is based on 30 measurable criteria critical to innovation, including patent, copyright and trademark protections, enforcement, and engagement in international treaties, among others.
"The index illustrates that many countries embraced the upward momentum in the global IP environment and took steps to improve their IP systems," the centre's chief executive Daivid Hirschmann said in the statement.
Noting that the Indian government's rhetoric to improve IP environment was yet to translate into action, he said nations like Thailand, which surpassed India in the latest rankings, provide an example of the way incremental changes to a country's IP framework can strengthen the overall ecosystem.
"All countries should look at the index and incorporate the infinite possibilities to improve their IP environment and encourage that the next greatest innovation takes place on their soil," Hirschmann said.
"The index was created so that countries like India can hear directly from the business community on the IP-related issues important to them when considering investing in new markets," said GIPC vice president Mark Elliot.
The Index ranks Algeria, Argentina, Australia, Brazil, Britain, Brunei, Canada, Chile, China, Colombia, Ecuador, France, Germany, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, New Zealand, Nigeria, Peru, Poland, Russia, Singapore, South Africa, South Korea, Sweden, Switzerland, Taiwan, Thailand, Turkey, Ukraine, United Arab Emirates, the US, Venezuela, and Vietnam.
