GI Tag Will Benefit Community, Boost Economic Growth: LG


(MENAFN- Kashmir Observer) Jammu- Reiterating his administration's commitment to foster innovation and promote intangible assets like IPs and GIs for unique products of Union Territory, Lieutenant Governor, Manoj Sinha on Thursday said that 10 handloom & handicraft products and 5 products of Agriculture & Allied Sector have received GI tag and it will benefit community as well as boost Jammu and Kashmir's economic growth.

He was addressing a gathering on the inauguration of two-day National-Level Intellectual Property Rights conclave 'IP Yatra' here on Thursday.

In his address, the LG applauded the Ministry of Micro, Small & Medium Enterprises and PHD Chamber of Commerce & Industry for their collective effort to create awareness about Intellectual Property Rights and its critical role in fostering innovation and economic growth.

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“IP Yatra conclave will lead the way for MSMEs, innovators and Startups to effectively use the various instruments of Intellectual Property Rights such as GI tags, patents, trademarks, copyrights for protection and development of their trade and businesses,” he said.

At the inaugural session, Sinha reiterated the commitment of the J&K Administration to foster innovation and promote intangible assets like Intellectual Properties and Geographical Indications for unique products of the Union Territory.

Read Also Kishtwar Saffron Earns Prestigious GI Tag, Branded As Grade 1 Kashmir Exports Handicrafts Worth Rs 208. 21 Cr In 1st Quarter

He said as many as 10 products of handloom & handicraft and five products of Agriculture & Allied Sector have received GI tag and it will benefit community as well as boost the economic growth of Jammu Kashmir.

“I consider Intellectual Properties as a catalyst for the progress of J&K and we are developing a robust Research & Development and legal framework for its protection and IP facilitation centre of the UT will provide handholding to entrepreneurs, MSMEs, Startups in filing IPRs and assist innovators in registration process,” he added.

The LG impressed upon all stakeholders and young entrepreneurs to pay special attention for commercialization of intellectual property.

“We must nurture the growth of IPs to fully realize the potential and achieve the goal of Creative India, Innovative India,” he said.

He also shared the key initiatives of the Universities and Higher Educational Institutions of the UT to promote innovation and startup culture in Jammu Kashmir.

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