While we celebrate our Global Innovation Index (GII) Performance YoY, we should crave for opportunities to sustain this growth and scope of further improvement in years to come. When a national perspective and outlook on a policy is assessed, we aim to look after all stakeholders. When it comes to innovation and protection of Intellectual Assets, one, for sure, cannot afford to overlook the most important stakeholder: Innovator. A pro-innovator approach leads to encouragement of overall fraternity, and the message of supportive ecosystem has a long-lasting impact. Resulting into overall strengthening of foundation for a thought process that involves innovation, creativity, and inclusiveness.
The actionable policy, when it comes to Intellectual Property and mechanism of its proper protection, must address the ease of doing innovation along with business. Patents are most often in spotlight whenever there is a discussion on these aspects. Rightly so, this particular asset assists a nation to create an identity for itself. Therefore, GII scores countries on multiple aspects that includes Patents, among others.
To enhance the performance, a nation must explore ways to encourage creativity, innovation, and the very thought process. Creating a conducive ecosystem, including innovator-friendly legal framework should be on highest priority of policy makers. To keep up with the expectations, we need to put our best foot forward when it comes to international forums, while strongly defending the soul of the legal framework itself. With new avenues unfolding, our IP laws need modernisation with a balanced approach.
Through this White Paper, we are attempting to correlate India’s positioning in comparison to the countries ahead of us on GII, focussing on approach towards innovators (read as Applicants) in Patent timeline. We are attempting to highlight how strict or lenient Indian Patent Act is for an Applicant, in comparison to the fellow countries.