India continues to climb up the league tables based on ease of doing business. In the past year, India has made good progress in most league tables suggesting that there is efficacy in the disruptive economic policies of Narendra Modi’s administration.
In the most recent survey of elements of global competitiveness, India rose up the league table of the US Chamber of Commerce Intellectual Property Index to rank 44th out of 50, compared to 43rd out of 45 the previous year. As the ranking suggests India has still much to do. The US Chamber of Commerce alludes to weakness in the framework for the protection of life sciences intellectual property, patent requirements outside international standards and no participation in the international Patent Prosecution Highway (PPH) tracks.
Other league table improvements in the past year include:
- In the World Bank’s Doing Business India moved up 30 spots to rank 100. Compared to 2017 there were notable improvements in the categories of getting credit, paying taxes and resolving insolvency. The country still has considerable work to do on ‘getting electricity’ and ‘protecting minority interests’.
- 2017-18 World Economic Forum (WEF’s) Global Competitiveness Index saw India rank at 40 its highest level ever. India remains the most competitive country in South Asia. India still has much to do to match China which is ranked 27th. The World Economic Forum noted that India had improved markedly where there had been government investment. Infrastructure, higher education and training and technological readiness were all better.
- In the Global Innovation Index (GII) India rose for the second year in succession after four consecutive years of decline. In last year’s ranking India improved from 81 to 66.
This article was attributed and provided by PG International