The famous goods that carry GI tag include Basmati rice, Darjeeling Tea, Chanderi Fabric, Mysore Silk, Kullu Shawl, Kangra Tea, Thanjavur Paintings, Allahabad Surkha, Farrukhabad Prints, Lucknow Zardozi and Kashmir Walnut Wood Carving.
The US today said there is "much potential" for increasing bilateral trade with India and the country needs to further improve its business environment and liberalise its economy to attract investments.
Describing the new IPR policy by the Centre as a "step in the right direction", US Ambassador to India Richard Verma on June 24 stressed the need for robust IP protection mechanism, saying foreign investors would also make decisions based on steps being taken to protect Intellectual Property.
The new IPR policy will give a big boost to R&D and new innovations within the country while steps are being taken to cut waiting period for trademark and patent registrations, Union Minister Nirmala Sitharaman said.