Property Rights form the very basis for the establishment of a free market and a truly democratic society. But, since independence, the individual’s right to property has been constantly diminishing under successive assaults by the government under the well-intentioned pretext of safeguarding ‘greater common good’. International experience confirms that one of the determining factors of prosperity of a country has been bleak.
‘India Property Rights Alliance’ is an initiative of India Institute to form a network of organizations and individuals dedicated to the promotion of rule of law and, the protection of property rights. The initiative was launched with the first edition of the India Property Rights Conference 2015 on 13 July 2015. The conference will be an annual stocktaking event for India’s progress in strengthening rule of law, economic freedom and private property rights. The Institute intends to bring together organizations that understand and value the importance of property rights in the country’s economic progress, and are willing to work together to push for legislative reforms for greater protection of property rights in India and the promotion of rule of law.
India ranked 59 out of 128 countries globally and 10 out of 20 regional countries in the 2016 edition of the International Property Rights Index (IPRI2016) almost with no change in scores compared to last year even though there is a huge difference in the scores of the individual components that make up the overall score.
This year Prof. Sary Levy-Carciente, the 2016 Hernando de Soto Fellow, has provided an outstanding update of the Index not only in terms of research analysis and data collection, but she also analysed the relationship of different dimensions of development with the IPRI and its components, including: Economic outcomes, Human Capabilities, Social Capital, Research and Innovation and Ecological Performance. The 2016 edition of the IPRI focuses on 128 countries representing 98.26 percent of the world Gross Domestic Product and 92.92 percent of the world population.
The India Property Rights Conference 2016 took place on 10 August 2016 in New Delhi, on the theme ‘Property for Prosperity’. The conference organised the global launch of the 2016 International Property Rights Index. The author of the index, Prof Sary Levy-Carciente, National Academy of Economics Sciences & Central University of Venezuela, presented the key findings at the conference. Smt Meenakshi Lekhi, Member of Parliament in the Lok Sabha from New Delhi constituency, National spokesperson of BJP and Supreme Court of India lawyer, delivered the key note address at the conference.