Competitive Exams: Current Affairs 2011: Trade and Commerce

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Trade and Commerce

Third edition of the Consolidated FDI Policy (Circular 1 of 2011)

  • Removal of the condition of prior approval in case of existing joint ventures/technical collaborations in the same field
  • Companies have now been classified int-only tw-categories companies owned or controlled by foreign investors and companies owned and controlled by Indian residents rather than earlier three categories.
  • In the agriculture sector, FDI will now be permitted in the development and production of seeds and planting material, without the stipulation of having to d-so under controlled conditions.

Patent Proposals

83, 686 Patent applications for examination are pending as on 8th March, 2011. This pendency is due to substantial increase in filing requests for examination and shortage of examiners of Patent and Designs.

Promotion of Tea Industry in Northo Eastern Region

Government is promoting teas of North East region. The mark Assam orthodox has been registered as a geographical indication. Apart from this Assam log-has also been registered as copyright on the lines of Darjeeling.

Moreover, India Tea Log-promoted extensively by the Board also covers teas of NE region. As far as the flavour of Tea is concerned, it depends on many factors like agro-climatic conditions of the area including soil and type of variety grown. Darjeeling tea which has the peculiar muscatel flavour cannot be compared with any other teas in India.

The quality of rubber production in the district of Karbi Anglong is reasonably good. Due to the efforts of the Rubber Board, an area of around 4200 hectares has so far has been planted with rubber in Karbi Anglong. Out of this, around 2000 hectares is mature and the yield is around 3000 metric tonnes per annum. Rubber Board is providing necessary assistance to improve the productivity, quality and marketing of the rubber in the district.

Courtesy: The Hindu and Times of India