India moved up by just one place to the 42nd position at the International IP Index 2023, with no change to the 2022 index score of 38.64%, raising serious concerns about enforcement of IP rights in India and resolution of IP-related disputes, the US Chamber of Commerce said in a report released globally on Tuesday.
In an interaction with ET, Kilbride said the 2016 National IPR strategy of India was such a huge success as it really helped crystallise some of the more discrete steps that the country should take, but a new IP policy is a domestic imperative and India should do it for itself and not for the world.
“However, I think it’s time for a new iteration of the national IPR strategy with a focus on creating ecosystems for innovation and creativity, and making sure that intellectual property rights are accomplished,” he said. “Further, the new policy should ensure making IP licensing more seamless to facilitate knowledge and technology transfer within the Indian economy,” he said, adding that it is a very domestic-focused effort that will have spill-over benefits for how India works with the rest of the world.
Outlining some of the key measures that India needs to undertake to improve its global IP ranking, Kilbride said the country needs to report data on counterfeits in a transparent manner while ensuring that it becomes part of some of the major international treaties that will help shape the global intellectual property system.