Correct Option
The Geographical Indications of Goods (Registration and Protection) Act, 1999, was enacted by India to comply with the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) of the World Trade Organization (WTO).
The TRIPS Agreement, a multilateral agreement administered by the WTO, mandates its member countries to provide legal protection for Geographical Indications (GIs). GIs identify goods as originating in a specific geographical territory, where a given quality, reputation, or other characteristic of the good is essentially attributable to its geographical origin.
Incorrect Options
- The International Labour Organization (ILO) is a United Nations agency concerned with setting international labor standards and promoting social justice and human and labor rights. It does not deal with intellectual property rights such as geographical indications.
- The International Monetary Fund (IMF) is an international organization that works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. It is not involved in the regulation or protection of geographical indications.
- The United Nations Conference on Trade and Development (UNCTAD) is a UN body that deals with trade, investment, and development issues. While it promotes sustainable development and trade, the specific international legal framework for the protection of geographical indications, which requires national legislation for compliance, is established under the WTO's TRIPS Agreement, which is binding on its members.