Page 10 - Dpiit

ONDC records 500-fold rise in transactions to over 25,000 orders since Jan

ONDC has also expanded its geographic footprint from 85 cities at the start of the year to over 230 now.

DPIIT undertaking third-party assessment of Startup India seed fund scheme

The Department for Promotion of Industry and Internal Trade (DPIIT) is undertaking a third-party assessment of Startup India Seed Fund Scheme to see its impact on the ground, a senior government official said on Tuesday. The Rs 945-crore scheme was launched in April 2021. It aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialisation. The fund was divided into four years for providing seed funding to eligible startups through eligible incubators across India. Joint Secretary in DPIIT Manmeet Nanda said that the scheme has benefited the startup community. "A third-party impact assessment of the startup India seed fund scheme is underway. It is being done by NIFM. They will do an independent review of how the scheme is actually benefited. They will evaluate the performance of the startups, incubators and see how this funding... led to greater opportunities and will also give us feedback on how we can

Private sector likely to get limited access to Gati Shakti portal

DPIIT prepares draft framework for data sharing

Razorpay joins hands with ONDC to offer payment reconciliation service

With this, the Tiger Global-backed firm has become the first payment gateway to launch a Payment Reconciliation Service for Network Participants like buyers, sellers, and logistic partners on ONDC

Govt has taken several steps to ease intellectual property rights process

The government has taken several steps for filing of applications and reducing the pendency related to intellectual property rights (IPRs), a senior official said on Wednesday. Sumita Dawra, Special Secretary in Department for Promotion of Industry and Internal Trade (DPIIT) also said innovation helps in promoting growth of a country. She urged the industry to fund the girl child for their education and higher studies and to go for Phd in other countries like Japan, Korea, the US and the UK. She also called for increasing collaboration between academia and industry to promote innovation. "The government has taken several steps to reduce pendency of IPR applications. Online processes have been introduced," Dawra said here at CII's convention on IPR.

Rajesh Kumar Singh takes charge as new DPIIT secy, replaces Anurag Jain

Senior IAS officer Rajesh Kumar Singh on Monday assumed the charge of secretary in the Department for Promotion of Industry and Internal Trade (DPIIT). Singh has replaced Anurag Jain, who was appointed as secretary in the Ministry of Road Transport and Highways. Before DPIIT, Singh was serving as Secretary in the Department of Animal Husbandry and Dairying. Singh is an Indian Administrative Service officer of 1989 Batch from Kerala cadre, the commerce and industry ministry said in a statement. "He has held many important positions in the Union Government as Commissioner - DDA, Joint Secretary - Ministry of Petroleum and Natural Gas, Joint Secretary - Department of Agriculture, Cooperation and Farmers Welfare and Chief Vigilance Officer Food Corporation of India," the statement said. Singh is assuming charge at a time when the ministry is taking a series of steps to promote foreign investments into the country and boost domestic manufacturing. Foreign direct investment into the ..

Projects worth Rs 5.14 trillion approved by NPG under PM Gati Shakti

Dawra said that states are also planning their infrastructure on the PM Gati Shakti Master Plan and the state master plan

Top global firms approaching Indian toy makers for sourcing goods: Official

Top global retailers from the US and Europe have shown keen interest in sourcing goods from Indian toy manufacturers and hand-hold them to meet their compliance requirements, a government official said. The official said these retail giants are looking to procure toys from India at a good scale. The Department for Promotion of Industry and Internal Trade (DPIIT), which is taking a series of steps to promote domestic manufacturing of toys, is also helping the Indian manufacturers tie up with the global players to meet their compliance provisions and increase exports from India. When asked about the issue, Manu Gupta, promotor of Playgro Toys India and Chairman of Toy Association of India, said a US-based retailer has approached the industry to procure toys in three main categories including ride-on and outdoor toys and mechanical and electrical toys - worth USD 400 million. He said DPIIT officials are helping the industry engage with these world players and get orders. These firms

DPIIT to raise startups' concerns on 'fair market value' with FinMin

Startups have raised concerns with the industry department that the calculation of the startups' fair market value done internationally is different from the income tax department

IBA reaching out to start-ups for funding needs, says DPIIT official

Only DPIIT-registered start-ups are eligible for funding under various support schemes of the industry department

Centre nudges state govts to speed up PM GatiShakti scheme adoption

The GatiShakti NMP was announced by Prime Minister Narendra Modi one-and-a-half years ago

Over 1,000 ODOP products identified as across all districts: DPIIT

Last year, the Centre had asked states to onboard a large number of products from various emporiums and artisans on the government's public procurement portal Government e-Marketplace

DPIIT to set up task force for formulating logistics cost framework

A task force will be set up for formulating a framework to determine logistics costs in the country, the commerce and industry ministry has said. It was decided in a workshop organised by Department for Promotion of Industry and Internal Trade (DPIIT) on the subject, on Monday. The task force members would include representatives from NITI Aayog, Ministry of Statistics and Programme Implementation (MOSPI), National Council of Applied Economic Research (NCAER), academic experts and other stakeholders. It "will be established for formulating a logistics cost framework in a time-bound fashion," it said. The workshop on logistics cost framework was organised in partnership with Asian Development Bank (ADB). Speaking at the workshop, Commerce and Industry Minister Piyush Goyal suggested taking note of India's geography, terrain, size and complexities, trade volume and value etc while calculating the logistics cost. He said e-commerce, smarter free trade agreements, adopting internatio

DPIIT asks states to hold industry interactions for addressing bottlenecks

The commerce and industry ministry has requested the states to interact with business associations on a regular basis to identify issues related to reducing logistics cost, an official statement said on Saturday. Special Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sumita Dawra said the states have been advised that an inter-departmental services improvement group may be formed to address logistics-related issues and action plans may be formulated for bringing down logistics cost duly identifying priority areas for taking up multimodal infrastructure related interventions. She was speaking at a workshop in Kochi. A series of regional workshops are being organized to facilitate the wider adoption of the PM GatiShakti National Master Plan (NMP) platform across all the states/UTs to sensitise the state officials about it. The special secretary also talked about mapping freight flows in order to have a demand-driven approach to logistics efficiency f

Govt to bring retail trade policy to promote ease of doing biz: Official

The government is working to bring a national retail trade policy for brick and mortar retail traders with an aim to promote ease of doing business, a senior official said on Monday. Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the policy would also help in providing better infrastructure and more credit to traders. The Department, he said, is also working to bring an e-commerce policy for online retailers. "We want that there should be synergy between e-commerce as well as retail traders," Sanjiv said at a conference on FMCG and e-commerce here. The Department is also in the process of formulating an insurance scheme for all the retail traders. The accident insurance scheme would particularly help small traders of the country, he added. "The government is trying to do policy changes not only in e-commerce but national retail trade policy which will be for physical traders which will be introducing ease of doing business,

Mysore Silk, Kangra Tea, Thanjavur Paintings granted GI tag: DPIIT

As many as 429 products like Mysore Silk, Kangra Tea and Thanjavur Paintings have been granted Geographical Indications (GIs) tag as on date, including 31 foreign goods, according to the commerce and industry ministry. The department for promotion of industry and internal trade (DPIIT), an arm of the ministry, said that steps have been taken to promote these goods. "A total of 429 GIs have been registered as on date in India, including 31 foreign products," the DPIIT said in its annual report 2022-23. A GI is primarily an agricultural, natural or a manufactured product (handicraft and industrial goods) originating from a particular geographical territory. Typically, such a name conveys an assurance of quality and distinctiveness, which is essentially attributable to the place of its origin. There is a proper process of registration of GI products, which includes filing of application, preliminary scrutiny and examination, show cause notice, publication in the geographical indicati

DPIIT starting exercise to prepare logistics cost framework

The department for promotion of industry and internal trade (DPIIT) is starting an exercise to prepare a framework for determining logistics cost in the country, an official said on Thursday. For this, the department will be holding a workshop on the subject, where experts, academicians, professors, and statisticians across the globe will participate on March 20 here besides government officials. "We hope to firm up an index to gauge the country's logistics cost in a year. It will be an annual affair after that.We are organising an international workshop on logistics cost framework," the official said. Many international players from countries like Japan, Korea and Germany will attend. "We will deliberate on various modules and choose the framework that best suits us," the official added. At present, the government is going by certain estimates which suggest that logistics cost in India stands at about 13-14 per cent of the country's GDP. The government has rolled out a national

Amazon to integrate its logistics and SmartCommerce offerings on ONDC

This will be Amazon's first collaboration with ONDC; firm says it will continue to explore scope for stronger integration between the two in the future

FDI equity inflow contracts 15% to $36.7 billion in Apr-Dec: Govt data

Computer software and hardware manufacturing were the highest recipient of FDI at $8.07 billion

FDI equity inflows decline by 15% to $36.75 bn in Apr-Dec FY23: DPIIT data

Foreign direct investment (FDI) into India declined by 15 per cent to USD 36.75 billion during the April-December this fiscal, according to the latest Department for Promotion of Industry and Internal Trade data. The FDI inflows stood at USD 43.17 billion during the corresponding period of the previous year. The total FDI inflows, which includes equity inflows, re-invested earnings and other capital, declined to USD 55.27 billion during the nine months of the current fiscal year as against USD 60.4 billion in the year-ago period. During April-December 2022-23, Singapore emerged as the top investor with USD 13 billion FDI. It was followed by Mauritius (USD 4.7 billion), the US (about USD 5 billion), the UAE (USD 3.1 billion), the Netherlands (USD 2.15 billion), Japan (USD 1.4 billion), and Cyprus (USD 1.15 billion), the data showed. The computer software and hardware sector attracted the highest inflows of USD 8 billion during the nine-month period of this fiscal. It was followed