India, in order to climb the intellectual property and innovation indexes, has to strike the right balance between providing public health to all and, at the same time, ensure continuous efforts to encourage innovation.
Despite India being the largest democracy and having the second largest youngest population in the world, it has slipped 10 positions to 76th on the Innovation Index. India also dropped from 24th to the 35th on the Intellectual Property Index (patents). Furthermore, despite many concessions having been given by .the legislature in order to promote and encourage innovations, it seems that India needs to step up its efforts to regain its lost position. While innovation is the key to the economic growth of any country, what is also important is to legitimately protect innovation – be it indigenously developed or created outside of India. This article is an attempt to trace the recent trends, which, on one hand, promote innovations and, on the other hand, lead to its dilution.
Authored by Archana Shanker.
This article was published in Expert Guides’ Women in Business Law 2014.
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