India is gearing up to attract international investments

Published 16-12-2019
News

Better business conditions and the protection of intellectual property rights creates new opportunities for Danish business.

For the third year in a row, India has jumped the list of business conditions, the so-called "ease of doing business".

A business-friendly government and comprehensive business reforms are intended to push the Indian economy. The goal is to increase economic growth, create more jobs and attract foreign investment.

And something seems to work. For the third year in a row, India has jumped the list of business conditions, the so-called "ease of doing business", which is carried out by the World Bank and covers 190 countries. India is now no. 63 on the list - a jump of 37 seats in just two years and a total of 79 seats since the current government embarked on its reform program in 2014.

“The Indian market has enormous potential for Danish companies, especially in the industries concerning water, green energy, food and pharmaceuticals. We know that better rights protection is a prerequisite for the potential to be turned into real export opportunities,” says Sune Stampe Sørensen, director of the Patent and Trademark Office.

He points out that Danish exports to India are still suffering and should be at a completely different level. India is on track to become one of the world's largest economies and is expected to surpass China as the world's most populous nation in a few years. Nevertheless, Danish exports to India in 2017 amounted to 3.17 billion kroner exports to China amounted to DKK 29.86 billion DKK.

Reforms and digitalization create better framework conditions
Some of the efforts that the Indian government has focused on are streamlining bureaucratic processes, increased transparency and increased focus on intellectual property protection such as patents and trademarks.

Since 2016, for example, the government has made great efforts to improve the framework conditions for Indian and foreign companies to obtain intellectual property protection. This has been done specifically through digitalisation and several employees in the country's offices responsible for intellectual property rights.

However, despite great progress, India is still at the relatively heavy end compared to the other BRIC countries - namely Brazil, Russia, India and China. On the "ease of doing business" list, Russia is No. 28, China is No. 31, and India is No. 63, while Brazil is No. 124.

Collaboration is to remove export barriers
The Patent and Trademark Office has partnered with the Ministry of Foreign Affairs to implement strategic sectoral cooperation in India in the field of intellectual property.

“When Denmark wants to support the protection of intellectual property rights in India, it is because it is a win-win for both countries. This strengthens the sustainable economic development in India, as well as contributing to the fact that Danish companies can safely export their products and services to the country, ”explains Sune Stampe Sørensen.

Danish experts from the Danish Patent and Trademark Office will collaborate with the Indian sister authority and exchange experiences with international best practice in the protection and enforcement of patents, trademarks and designs.

A dedicated intellectual property sector consultant has been employed at the Danish Embassy in New Delhi since September 2019 to prepare the technical cooperation between India and Denmark.

The three-year cooperation with the Indian authorities is expected to commence in the spring of 2020.