Economy

‘India a promising yet challenging market for IP-intensive industries’

PT Jyothi Datta Mumbai | Updated on February 17, 2020 Published on February 17, 2020

ipr

India has made significant progress in protecting intellectual property (IP) but the “job is not yet done”, said the US Chamber of Commerce’s Global Innovation Policy Center (GIPC) after the release of its latest International IP Index.

The index ranked India at 40 among 53 countries, where it was evaluated on issues from patent and copyright policies to the commercialisation of IP assets and ratification of international treaties.

This report comes ahead of US President Donald Trump’s visit to India later this month and is being watched closely by pro-health groups.

Certain provisions in the amended Indian Patents Act (2005) have been sparring points between the two countries – for example, the Act’s Section 3 (d) that disallowed patent protection on incremental changes on a known substance unless it proved greater efficacy – and the use of compulsory licensing where a third party is allowed to make an innovative drug at a reduced price in the interest of public health.

On the findings of its eight IP Index report, GIPC said: “India continues to be a promising yet challenging market for technologically cutting-edge, IP-intensive industries. Serious hurdles remain, particularly in the areas of patent eligibility and enforcement.”

Patrick Kilbride, Senior Vice-President for the GIPC at the US Chamber of Commerce, said that India’s progress on the IP Index reflected a sustained effort by Prime Minister Modi’s administration to capitalise on India’s immense potential for innovation and creativity.

“As the US and India look to conclude a trade deal in the coming weeks, we hope that it will pave the way for innovation-focussed partnerships between the US and India, two of the world’s key democratic,” he added.

“IPR protection is a good news story for India,” added Nisha Biswal, President, US-India Business Council. “The Modi administration has largely centralised IPR policy and enforcement, providing the resources needed to improve transparency and consumer awareness.”

Published on February 17, 2020
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