India and the UK  have signed two memorandums of understanding (MoUs) on increasing cooperation in intellectual property rights (IPRs) and ease of doing business. Both the MoUs were exchanged in the presence of Prime Ministers Narendra Modi and his British counterpart Theresa May. The MoU on IPR was inked between the Department of Industrial Policy and Promotion (DIPP) and the Intellectual Property Office of the United Kingdom (UKIPO).

• It is intended to promote innovation, creativity and economic growth in both countries.
• It establishes a broad and flexible framework through which both countries can exchange best practices and work together on training programmes and technical exchanges to raise awareness on IPRs and better protect intellectual property rights.
• It also covers exchange and dissemination of best practices, experiences and knowledge on IP with the industry, universities, R&D organisations and SMEs through participation in programmes and events, exchange of information and best practices on processes for disposal of applications for patents, trademarks, industrial designs and Geographical Indications, and also the protection, enforcement and use of IP rights.
• The MoU on ease of doing business will harness UK expertise to support India’s efforts to climb the World Bank Ease of Doing Business ratings.

In the World Bank’s latest ‘Doing Business’ report, India’s place remained unchanged from last year’s original ranking of 130 among the 190 economies that were assessed on various parameters. But the last year’s ranking has been revised to 131 from which the country has improved its place by one spot.