Trade talks with EU may provide GI tag on India’s basmati rice to boost exports

During trade negotiations last week, India and the EU have agreed to enhance the bilateral trade and investment relationship through the resumption of negotiations for a balanced, ambitious, comprehensive and mutually beneficial trade agreement, eight years after its suspension. The two sides have also agreed to launch negotiations for two key pacts on investment protection and GI. An agreement on the geographical indications (GI) with European Union (EU) could boost India’s basmati rice exports to $500 million in 1-2 years from the current $250 million as realisation is expected to increase with the quality-conscious European consumers. The EU has applied for registration of 121 products in India out of which 92 belong to the wine and spirit category. EU is looking for facilitation in GI product registration and market access. India, on the other hand is pursuing opportunities beyond basmati in textiles and handicraft GI. India has more agriculture, food, handicraft, artisan ...