The Indian government has recently announced that it will be extending financial support to eligible agencies for promoting Geographical Indications (GIs) products.
The move aims to boost the country’s GI sector by encouraging more initiatives.
Additionally, it will also focus on projects related to the promotion of these unique products.
To streamline the process, the Department for Promotion of Industry and Internal Trade (DPIIT) has released operational guidelines for the allocation of financial assistance to support these initiatives.
This blog post delves into the details of this latest development and its potential impact on the GI sector in India.
Know about DPIIT and the Importance of Geographical Indications, GI Products
The Department for Promotion of Industry and Internal Trade (DPIIT) is a division of the commerce and industry ministry that focuses on investments and the protection of intellectual property rights (IPRs).
Geographical Indications (GIs) are a type of IPR that primarily applies to agricultural, natural, or manufactured products (such as handicrafts and industrial goods) originating from a specific geographic location.
GIs provide a guarantee of quality and distinctiveness, which is largely attributed to the product’s place of origin.
Some of the most well-known products that carry the GI tag include:
- Basmati rice
- Darjeeling Tea
- Chanderi Fabric
- Mysore Silk
- Kullu Shawl
- Kangra Tea
- Thanjavur Paintings
- Allahabad Surkha
- Farrukhabad Prints
- Lucknow Zardozi
- Kashmir Walnut Wood Carving
These products are highly valued for their unique characteristics and qualities, which are closely tied to their places of origin.
You must also read the related post to know more: Difference Between Trademark and Geographical Indication
Indian Government to Provide Financial Assistance for Promotion of Geographical Indications (GIs) Products
- The Indian government will give money to organisations that want to promote GIs.
- This is part of their plan to create awareness about the importance of GIs and to promote registered Indian GI Products.
- They will also help identify potential GIs and encourage people to register them. This will give people more opportunities to make money and develop their business.
- The initiatives will also collect information about the people who make GI goods and their living conditions.
- This information will help the government create better policies to support them.
Important Note: When a product gets a GI tag, no one else can sell the same thing with that name. This tag lasts for 10 years and can be renewed. Having a GI tag also means legal protection for the item, it cannot be used without permission and it can be exported.
Lastly, If you wish to avail the benefits of government schemes and grow your Geographical Indications (GIs) products business, consult our experts for professional guidance and assistance.
In case you need any further guidance with regarding your business, please feel free to contact our experts at 8881-069-069 or get online CA Consultation.
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