The Union Ministry of Commerce and Industry is launching a mega campaign for promoting products closely associated with their geographical origin.
The Union Ministry of Commerce and Industry is launching a mega campaign for promoting products closely associated with their geographical origin. The campaign aims at promoting local artisans and manufacturers, said Commerce and Industry Minister Suresh Prabhu. Speaking on the sidelines of BioAsia-2018, he said many countries are looking at India for investment opportunities after simplification of Foreign Direct Investment (FDI) norms. “We started a campaign to give geographical indications (GI) for each of certain products which are identified with a particular place like Banarasi sarees. “Once we identify that (geographical association of the product), the local artisans will get an IPR (for the product). We are launching a huge campaign for this. I’m going to involve all state governments,” he said.
A Geographical Indication (GI) is primarily an agricultural, natural or a manufactured product (handicrafts 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 minister also spoke about promoting “ease of doing business” at the district level. “I also told you about the ease of doing business (ranking) at the district level. “If GDP of the all the districts goes up by 3 per cent, then India’s GDP will also go up by 3 per cent,” Prabhu told reporters.
To a query on trade deficit this year, he said exports are on a rising path and so are FDIs into the country. “What we are sure is our exports are rising. We are seeing a good pipeline of FDIs. In fact, a large number of countries are showing interest in India. “Now we have simplified the FDA rules so much that most of the FDIs that come into India come through automatic route and do not need any government approvals.”
Earlier, in his address at BioAsia, Prabhu said India has become the pharma capital of the world and is helping many countries with affordable drugs and vaccines. He promised to take up some of the industry-related issues with respective ministries. BioAsia is a conference that brings together entities associated with the biotechnology and life-sciences sector. These include biotech & biopharma companies, research bodies, investors, policy makers, regulators and analysts.