This paper provides situations of aromatic rice demand, and international standards. The history and recent developments of traditional and evolved aromatic rice varieties, namely Basmati rice and Jasmine rice, are reviewed. The emerging aromatic rice innovations from developed countries such as the U.S. and other Asian countries generate a threat to these traditional aromatic rice producers such as India, Pakistan, and Thailand. Under WTO Trade Related Aspects of Intellectual Property Rights (TRIPS) Agreement, Geographical Indication (GI) provides a means to protect traditional knowledge and products that are recognized as quality or reputation attributable in the geographical areas, but only if the GI is also protected in the country of origin. India and Pakistan governments still have not registered Basmati rice as GI product though the attemp has been made by NGO, and is still pending. Thailand, on the other hand, already registered GI Thung Kula Ronghai Jasmine rice to specific areas in Northeast Thailand whre the best qualtiy jasmine rice is attributable to the location. Yet, Thung Kula Ronghai Jasmine rice is not protected under GI in other countries. Economic issues realted to GI rice are reviewed and disucssed.