There is no silver bullet to innovation. The Wall Street Journal observed in a powerful commentary that New Delhi had gone the extra mile to revamp its intellectual property rights. Now the dividends were showing — India was cruising imperiously ahead of China in the innovation race.
“It may appear as if India’s recent economic rise is solely due to its low-cost outsourcing opportunities for foreign businesses. But this is only part of the story,� said the US financial daily on Monday.
“India is rapidly evolving into Asia’s innovation centre, leaving China in the dust. Its secret weapon? Intellectual property-rights protection. In recent years, New Delhi has taken big steps to protect these rights, and the results have been dramatic,� it added.