New Delhi: India has been ranked 42nd out of 55 countries in the latest International Intellectual Property Index report.This is a fall for India, which was at the 40th rank in 2021 and at the 25th place (out of 25 countries assessed) in 2014.The annual International Intellectual Property (IP) Index for 2023, published on February 21, 2023, says it evaluates the protection of IP rights in 55 of the world’s leading economies, together representing around 90% of global GDP. The report covers everything from patent and copyright laws to the ability to monetise IP assets and the ratification of international agreements.The report, brought out by the US Chamber of Commerce, shines the light on many proposals — both domestic and international — which it says are threatening to erode intellectual property rights. By analysing the IP landscape in global markets, the index claims that its aims are to help nations navigate toward a brighter economic future marked by greater innovation, creativity and competitiveness, according to a media release.The report claims that Intellectual property (IP) was “critical to how nations, businesses, and individuals managed through and emerged from the COVID pandemic”.According to the report released last week, Morocco and Thailand at 2.5% each and Vietnam at 2.02% had the largest improvements in their overall score.Even though India’s rank fell, “Asia had the greatest improvement in the regional average score as a result of score improvements in Malaysia and Singapore, in addition to Thailand and Vietnam.”