New Delhi, Feb 25 (KNN) According to the US Chamber of Commerce’s latest International IP Index report India has been ranked 42nd out of 55 countries.

The annual International IP Index evaluates the protection of IP rights in 55 of the world’s leading economies, together representing around 90 per cent of global GDP. 

Everything from patent and copyright laws is covered in the report including to the ability to monetise IP assets and the ratification of international agreements.

It highlights a torrent of proposals — both domestic and international — are threatening to erode intellectual property (IP) rights. 

By analysing the IP landscape in global markets, the index aims to help nations navigate toward a brighter economic future marked by greater innovation, creativity, and competitiveness, according to a media release.

“As India’s size and economic influence grows on the world stage, India is ripe to become a leader for emerging markets seeking to transform their economy through IP-driven innovation,” said Patrick Kilbride, senior vice-president of the US Chamber of Commerce Global Innovation Policy Center that publishes the annual report.

It has recognised India’s steps to improve enforcement against copyright-infringing content and provides a best-in-class framework to promote better understanding and utilisation of IP assets. 

“However, addressing long-standing gaps in its IP framework will be critical to India’s ability to creating a new model for the region and India’s continued economic growth,” Kilbride said.  (KNN Bureau)