Context: According to an annual report compiled by the influential US Chambers of Commerce, India has improved its overall IP score from 38.4 per cent to 38.6 per cent, and the country is ranked 43 out of 55 countries on the International Intellectual Property Index.

• Top 5 Countries in the International Intellectual Property Index are United States of America; United Kingdom; Germany; Sweden and France.

Key highlights

• The report of this year analyzed data of the last 10 years and revealed that the global IP environment has consistently improved over time, even in the last two years of turmoil due to the pandemic. 
• The report also states that emerging economies are strengthening their IP regimes.

India's overall score has increased from 38.40 percent (19.20 out of 50) in the ninth edition to 38.64 percent (19.32 out of 50) in the 10th edition. 

• This reflects a score increase on indicator 32, said the report Global Innovation Policy Center of the US Chambers of Commerce.
• Overall, India is ranked 43 out of 55 countries in the International IP Index.
• It is the first major attempt at assessing the state of India's IP policy regime since 2016 and the National Intellectual Property Rights Policy.

According to the report, innovators and creators are constantly competing to deliver the best and brightest tomorrow.

• They're racing to create the solutions we need to address critical global challenges, like public health, cultural development, environmental sustainability, and economic disparities. Intellectual property (IP) policies can spur innovators and creators or stop them altogether.

Governments must make a choice: They can embrace dangerous policies to roll back international and domestic IP protections and deprive their economies of the many benefits strong IP ecosystems provide. 

• Or, they can make conscious policy decisions to invest in their IP framework until every individual with an idea has a fair shot at the competition for leadership, success, and, ultimately, tomorrow.

About Global Innovation Policy Center (GIPC)

• The USCC’s principal institution is the GIPC and handles all the issues which are related to creativity and innovation by advocating strong standards of intellectual property. 
• The GIPC is working to promote creativity and innovation across the globe through intellectual property standards that save lives, create jobs, cultural prosperity, and advance global economy.

By: Shubham Tiwari