KnowledgebaseHistory Of GI

History Of GI

Embedded in the ground of the region for which they stand, geographical indications contribute incredibly to the economic growth of that territory across the globe. It creates employment, strengthens the market regulation and encourages diversification of production. Moreover, it also protects the cultural heritage and natural glory of a particular place.

Analogous to trademark, GIs help the customers to differentiate the genuine products from the imitative ones and helps the producers to build a goodwill of their product which consequently fetches a premium price to the producers in the globalized market.

In the absence of such legislation, the unauthorized users of a GI might misuse the goodwill attached to the product by selling their artificial product as genuine ones. Such unscrupulous practices shatter the goodwill and reputation associated with the product resulting in dropping of revenues for the genuine producers and also misleading the customers. In order to weed out such unfair business practices it is important to bring the right ecosystem to trade and uplift the GI products at national and international level.

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