The World Intellectual Property Organization (WIPO) treaty on intellectual property, Genetic resources and associated traditional knowledge, is a significant win for countries of the global South and for India, which is a mega biodiversity hotspot with abundance of traditional knowledge, and wisdom.

For the first time the system of knowledge and wisdom which have supported economies, societies and cultures for centuries are now inscribed into the global IP system. For the first time the connection between local communities and their GRs and ATK is recognised in the global IP community. These are historic achievements long championed by India as a provider of traditional knowledge and wisdom and repository of biodiversity.

The treaty will not only safeguard and protect biodiversity but will increase transparency in the patent system and strengthen innovation. Through this, the IP system can continue to incentivize innovation while evolving in a more inclusive way, responding to the needs of all countries and their communities.

Source – https://pib.gov.in/PressReleaseIframePage.

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Passage 2

India is poised to begin wheat imports after a six-year gap, to replenish depleted reserves and hold down prices that leaped following three years of disappointing crops, sources say, as the approaching end of general elections removes a key hurdle.
New Delhi is expected to abandon a 40% tax on wheat imports this year, officials and other sources told Reuters, paving the way for private traders and flour millers to buy from producers such as top exporter Russia, albeit in modest volumes.
As the new-season wheat harvest rolls in, the government is likely to wait until after June to scrap the import tax, in time for Russia’s harvest, the sources said.

Source- https://indianexpress.com/article/business/commodities/i

3rd JUNE 2024 CLAT

Name

Mobile

Passage 1

1. The new treaty was adopted at the WIPO headquarters at? After two-week negotiations from May 13-24 at a Diplomatic Conference?

A. Geneva

B. Brussels

C. Stockholm

D. Oslo

2. The recently concluded World Intellectual Property Organization (WIPO) treaty on which of this is a significant win for countries of the global South including India.

A. Intellectual Property (IP)

B. Genetic Resources (GRs)

C. Associated Traditional Knowledge (ATK)

D. All

3. Genetic resources (GRs) are defined in the Convention on Biological Diversity, of which year, (CBD) as genetic material of plant, animal, microbial or other origin containing functional units of heredity that has actual or potential value?

A. 1986

B. 1988

C. 1990

D. 1992

4. Which of this incorrect as to WIPO?

A. It is the global forum for Intellectual Property (IP) services, policy, information and cooperation.

B. It is a self-funding agency of the United Nations, with 195 member states including India.

C. Its mission is to lead the development of a balanced and effective international IP system that enables innovation and creativity for the benefit of all.

D. None

5. With reference to the ‘National Intellectual Property Rights Policy’, consider the following statements: 1. It reiterates India’s commitment to the Doha Development Agenda and the TRIPS Agreement. 2. Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India. Which of the above statements is/are correct?

A. 1 only

B. 2 only

C. Both 1 and 2

D. Neither 1 nor 2

Passage 2

6. India, the world's __th largest wheat producer, plans to begin wheat imports after a six-year gap to replenish depleted reserves and control rising prices, driven by three consecutive years of disappointing crops.

A. 1st

B. 2nd

C. 3rd

D. 4th

7. Which of this is correct?

A. India's wheat production has declined in the last 3 years due to unfavourable weather conditions, leading to a sharp drop in wheat output.

B. The government estimates this year's wheat crop to be 6.25% lower than the previous year's (2023) record production of 112 million metric tons.

C. As of April 2024, wheat stocks in government warehouses have dropped to 7.5 million tons, the lowest in 16 years, due to the government selling over 10 million tons from its reserves to control domestic prices

D. All of these

8. Domestic wheat prices have stayed above the government's minimum support price (MSP) of how many rupees per 100 kg and have been on the rise recently.

A. 2275

B. 2295

C. 2310

D. 2340

9. Which of this state is not in the top producers of wheat in India?

A. Punjab

B. UP

C. Haryana

D. MP

10. Food Corporation of India (FCI) is a statutory body established under the Food Corporations Act of the year?

A. 1961

B. 1964