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 15thor 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
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