Business, Economy & Banking Current Affairs
Category Wise PDF Compilations available at This Link
The first ever India-US Dialogue on Intellectual Property (IP) was launched in New Delhi to deepen bilateral strategic cooperation on IP policy. It was launched by US Chamber of Commerce’s Global Innovation Policy Center (GIPC) and Industry body Federation of Indian Chambers of Commerce & Industry (FICCI) in partnership with US-India Business Council (USIBC). It will be convened annually, alternating between New Delhi and Washington, DC.
India-US Dialogue on Intellectual Property
The dialogue aims to identify solutions and also share technical knowledge and expertise between both countries in IP domain. It will provide platform to experts from both countries to develop stronger understanding of uniform IP frameworks and create solutions in collaborative way. The discussions under this dialogue included focus on joint opportunities and challenges related to whole spectrum of IP, including patent filing, regulatory landscape, copyright and infringement, technology transfer, and enforcement. Its recommendations will be shared with both governments to deepen strategic cooperation on IP policy.
As per data released by Union Ministry of Commerce and Industry, index of eight core industries slowed down to 4.3% in September 2018. It is lowest growth recorded by core sectors in the last four months, as production of crude oil and natural gas declined by 4.2% and 1.8%, respectively. Previously, lowest growth rate was in May 2018 when core sectors expanded at 4.1%. In September 2018, Fertiliser, cement and electricity sectors output grew by 2.5%, 11.8% and 8.2%, respectively. However, growth of coal, refinery products, and steel sectors declined to 6.4%, 2.5% and 3.2%, respectively.
Core industries are main or key industries of the economy. In most countries, these particular industries serve as backbone of all other industries. In India, there are eight core sectors comprising of coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity. The eight infrastructure sectors, constitute 40.27% of the total index of industrial production (IIP).
Revised weightage in core sectors: Petroleum Refinery production (weight: 28.04%), Electricity generation (19.85%), Steel production (17.92%), Coal production (10.33%), Crude Oil production (8.98%), Natural Gas production (6.88%), Cement production (5.37%), Fertilizers production (2.63%).