Question
Which was the first Indian product to get the
geographical indication tag?Solution
Solution- Darjeeling tea was the first Indian product that was awarded the GI tag in 2004. Geographical indications are intellectual property rights which gives a sign to particular product from definite geographical origin and assure about its exclusive quality. It distinguishes the original product from other products in the market which helps in fetching premium price especially from the developed countries. The GI tags are of great significance as they boost exports and promote economic prosperity of the producer thereby leading to sustainable development. It is a mark of authenticity and ensures that registered authorized users or at least those residing inside the geographic territory are allowed to use the popular product names.
The Indirect Utility function is = 12M3/27PxPy, where M is the income, P(x) is the price of commodity X and P(y) is the price of commodity Y....
Match the following
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