Government to provide financial support to eligible agencies to promote GI

Government to provide financial support to eligible agencies to promote GI

Subject : Economy

Section: Msc

Context: The government will provide financial assistance to eligible agencies for undertaking initiatives for the promotion of Geographical Indications (GIs) products.

What is the news?

• The Department for Promotion of Industry and Internal Trade (DPIIT) has issued operational guidelines for financial assistance for undertaking the initiatives for the promotion of GIs.
• DPIIT is an arm of the commerce and industry ministry which deals with investments and intellectual property rights (IPRs).
• A GI, a kind of IPR, is primarily an agricultural, natural or manufactured product (handicraft and industrial goods) originating from a definite geographical territory.
• Typically, such a name conveys an assurance of quality and distinctiveness, which is essentially attributable to the place of its origin.
• The famous goods that carry GI tag include Basmati rice, Darjeeling Tea, Chanderi Fabric, Mysore Silk, Kullu Shawl, Kangra Tea, Thanjavur Paintings, Allahabad Surkha, Farrukhabad Prints, Lucknow Zardozi and Kashmir Walnut Wood Carving.
• This is inline with the objectives of national IPR policy.
• Government of India will provide financial assistance to eligible agencies for undertaking initiatives for Promotion of GIs, which aims to create awareness about significance of GIs and its uniqueness, promoting registered Indian GIs, identify potential GIs and encourage stakeholders towards registration.