Consider the following statements Kashmiri Willow bats will soon get the GI Geographical Indication ...........

Jammu and kashmir Economy

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Consider the following statements:

Kashmiri Willow bats will soon get the GI (Geographical Indication) tag.
In the international market, Kashmir Willow bats are priced higher than the English willow bats.

Which of the above statements is/are correct?

1 only

2 only

Both

None

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Explanation:

Kashmir’s famous willow bats are in the process of getting GI (Geographical Indication) tag.

A recent study showed that it will serve as a great marketing strategy for selling these bats in international markets.

The GI tagging will help in raising the monetary value of the Kashmir willow bats which will translate into better returns for all the stakeholders of the local industry.

The Kashmir willow bats are priced up to Rs 3500 rupees per bat, as against the English willow bats whose retail prices range between $220 (Rs 16,000 approx.) and $450 (Rs 33,000 approx.) per bat in international markets.