India has ranked second last in new US Chamber International IP Index rankings, largely unchanged from the last year's, said a press release from the chamber.
The index, produced by the Chamber’s Global Intellectual Property Center (GIPC), measured the IP environment in India alongside 37 other economies.
Patent protection in India remains outside of international best practices, and Indian law does not provide adequate enforcement mechanisms to effectively combat online piracy, the press release said.
“While we have been encouraged by the Modi Administration’s rhetoric to improve India’s IP environment, we have yet to see it translate into concrete action. Nations like Thailand, who surpassed India in the rankings this year, provide an example of the way that incremental changes to a country’s IP framework can strengthen the overall IP ecosystem," said David Hirschmann, president and CEO of GIPC.
Venezuela finished last out of the 38 economies studied, while the United States ranked first.
According to the chamber, half of the 38 economies measured improved their total score from last year’s Index. This indicates increased recognition of the benefits of intellectual property.
The 38 economies benchmarked in the 2016 Index accounts for nearly 85% of global gross domestic product (GDP). The index is based on 30 measurable criteria critical to innovation including, patent, copyright and trademark protections, enforcement, and engagement in international treaties, among others.
“This year’s Index illustrates that many countries embraced the upward momentum in the global intellectual property environment, and continued to take steps to improve their IP systems,” said Hirschmann.