Objectives and Program of INDIA PROPERTY RIGHTS

Objectives and Program of
INDIA PROPERTY RIGHTS CONFERENCE 2015
Theme: Property Rights and Ease of Doing Business
The Ease of Doing Business index of the World Bank Group ranks economies on a scale
from 1 to 189, 1 being the highest ranking, indicating better regulations for businesses
and stronger protection of property rights. A high ease of doing business-ranking means
the regulatory environment is more promotive of business operations and thus more
conducive to higher economic growth. India’s ranking in the 2014 report was 142, below
Uzbekistan, which ranked at 141, Pakistan at 128 and Sri Lanka at 99. The new
government’s focus on ease of doing business through its Make in India campaign is
therefore, a welcome development. The Union Budget 2015 proposed to introduce a
regulatory reform law that will reduce the discretion of inspectors and bring
accountability in regulation. The government has also promised to repeal several obsolete
laws that hinder growth. These measures, if executed, are likely to positively affect India’s
ease of doing business ranking. However, for a more impactful reform, the government
has to focus on strengthening ​
rule of law and securing ​
property rights for the citizens- the two
factors that are common among the parameters measured by all the indices of economic
freedom.
The Ease of Doing Business index is directly proportional to the Economic Freedom
Index. Together they illustrate the position of the country with regard to rule of law and
protection of private property rights. India’s ranking in the Economic Freedom Index
developed by the Heritage Foundation in partnership with the Wall Street Journal has not
improved in the last five years. In the absence of a well functioning legal and regulatory
framework, a weak rule of law, exacerbated by corruption in many areas of economic
activity, undermines the emergence of a more vibrant private sector, which is the primary
agent of growth in the country. As Hernando De Soto says, “ The poor aren’t breaking
the laws, the laws are breaking them”, since excessive regulation affects the small and
medium enterprises, and start-ups much more than large enterprises.
Though a well-defined and well-protected system of property rights lies at the very heart
of a free society, India’s record in defending property and upholding the rule of law,
unfortunately, has been bleak. The International Property Rights Index, which measures
and compares the strength of rule of law, and physical and intellectual property rights
across countries has ranked India 46 out of 97, behind many other developing countries
such as South Africa, Turkey and Jordan.
Another important aspect of property rights is Intellectual Property. There exist many
issues with our Intellectual Property Rights (IPR) regime, which suffers from a lack of a
robust implementation mechanism. It is imperative to evolve a legal framework that
respects innovation and rewards innovators for the risks they undertake. At the same
time, this needs to be balanced against the need to promote further innovation by making
ideas available to all. It is a tough balancing act; one that India needs to address urgently.
Against this background, India Institute has embarked on an initiative to bring together
organizations, think tanks, political activists, intellectuals and policy decision makers that
are committed to rule of law and protection of property rights. Though the government is
rightly focusing on improving India’s ease of doing business index, given the history of
license raj and assault on private property rights in independent India, improving
economic freedom would require courageous reforms. Therefore, there is an urgent need
for experts and intellectuals to come together to discuss and share their ideas on policy
and implementation that the government can benefit from.
To facilitate the exchange of information and ideas among experts and intellectuals with
regard to property rights, India Institute is organizing the first ‘India Property Rights
Conference’ on the theme “Property Rights for Ease of Doing Business” in the month of
​
July (tentatively on the 15th​or 16th​
) in New Delhi in which the International Property
Rights Index would be launched in India for the first time by Mr. Lorenzo Montenari, the
Executive Director of the International Property Rights Alliance, the organization that
has developed the index that is a barometer for protection of property rights and
economic well-being. India Institute aims to collaborate with other like-minded
organizations to make this an annual event to continue to focus on strengthening
property rights and economic freedom in the country.
The conference series will be a forum that promotes a constructive and open dialogue
between experts and intellectuals to discuss the value and importance of property rights
and promote ideas for tackling the problem of India’s property rights regime and
strengthening the rule of law
A conference report and a website dedicated to the cause will summarize the proceedings
and share the ideas presented for the benefit of stakeholders around the country.
Program Highlights:
10.00 AM: ​
Welcome note
10.10 AM: ​
Keynote address on Property Rights and Ease of Doing Business
10.30 AM: ​
Launch of International Property Rights Index in India
10.35 AM: ​
Speech on the IPRI
10.50 AM: ​
Break for tea
11.00 AM: ​
Panel 1: Rule of Law: How to create institutions that work for everyone?
11.45 AM: ​
Panel 2: Property Rights: For securing justice, peace and prosperity for all
12.30 PM: ​
Panel 3: Intellectual Property rights: The Balancing Act
1.15 PM: ​
Vote of Thanks
1.30 PM: ​
Lunch
Speakers profile under construction