The IP index 2019, brought out by the US Chamber of Commerce's Global Innovation Policy Center (GIPC) showed that India ranked 36th of 50 economies, eight places up from 44th place last year. India's overall score has also increased substantially from 30.07% (12.03 out of 40) in the previous edition to 36.04% (16.22 out of 45) in the present edition.

The Union Cabinet has approved the proposal for accession of India to the Nice, Vienna and Locarno Agreements, that would harmonize the classification systems for examination of trademark and design applications, in line with the systems followed globally. The accession is expected to instill confidence in foreign investors in relation to protection of IPs in India.

The Union Cabinet has approved the Memorandum of Understanding (MoU) between India and France on technical bilateral cooperation in the field of new and renewable energy.   India and France aim to establish the basis for a cooperative institutional relationship to encourage and promote technical bilateral cooperation on new and renewable issues on the basis of mutual benefit, equality and reciprocity.

The Union Cabinet has approved the National Policy on Software Products 2019 to develop India as the global Software Product hub, driven by innovation, improved commercialization, sustainable Intellectual Property (IP), promoting technology start­ups and specialized skill sets. Policy aims to help the industry grow at CAGR of 40% to reach USD 70-80 billion by 2025, while creating employment opportunities for 3.5 million people.