Page 10 - Dpiit

GatiShakti must be leveraged to benefit sectors beyond infra: Piyush Goyal

He highlighted that the area development approach under PM GatiShakti can be used for engaging with aspirational districts of NITI Aayog

DPIIT convenes retail traders' meet on June 16 to discuss compliance burden

The Department for Promotion of Industry and Internal Trade (DPIIT) has convened a meeting of retail traders on June 16 to discuss issues related to further reducing compliance burden and promoting ease of doing business for the sector, a government official said. The department is taking a series of measures to promote the growth of the sector and provide them friendly business environment. The meeting will be chaired by the department's joint secretary Sanjiv. Issues likely to figure in the meeting include the utility of a national single window system, coverage of clearances, compliances required in the sector, suggestions for compliance reduction, and easing processes and inspections, the official said. Officials from ministries and departments related to the retail sector will also participate.

PLI schemes help boost production, employment, exports: DPIIT Secretary

The production-linked incentive (PLI) schemes have led to an increase in production, employment generation, and exports of the country, a top government official said on Tuesday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that due to the schemes, there was an increase of 76 per cent in foreign direct investment in the manufacturing sector in 2021-22 (USD 21.34 billion) compared to 2020-21 (USD 12.09 billion). The schemes were announced for 14 sectors with an incentive outlay of Rs 1.97 lakh crore (about USD 26 billion) to strengthen their production capabilities and help create global champions. Sectors which witnessed increase in FDI inflows from 2021-22 to 2022-23 are pharmaceuticals, food processing, and medical appliances. As of date, 733 applications have been approved in 14 sectors with expected investment of Rs 3.65 lakh crore. Actual investment of Rs 62,500 crore has been realized till March 2023 which has resul

Concerned departments may consider course correction for PLI scheme: DPIIT

Concerned departments where the production-linked incentive scheme is not picking up may consider some course correction in the plan, a top government official said on Tuesday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said the concerned ministries have to see if PLI disbursement is low or if firms are not able to meet their performance thresholds, in such cases, sometime relaxations may be required like the way it has been done for the IT sector. Last month, the government announced the PLI 2.0 for IT Hardware with a budgetary outlay of Rs 17,000 crore. "We are hopeful of utilising Rs 1.97 lakh crore for the scheme...but in an individual scheme, there may be some course correction," Singh told reporters here. The government has announced the PLI (production-linked incentive) scheme for as many as 14 sectors, such as telecommunication, white goods, textiles and pharma with an outlay of Rs 1.97 lakh crore. The government has

Hand holding states, govt sellers to integrate with ONDC: DPIIT Joint Secy

The Department for Promotion of Industry and Internal Trade (DPIIT) is hand-holding states and central government sellers like handicraft emporiums to gradually integrate with Open Network for Digital Commerce (ONDC), a senior official said on Monday. ONDC is an initiative of the DPIIT to create a facilitative model to help small retailers take advantage of digital commerce. It is not an application, platform, intermediary or software but a set of specifications designed to foster open, unbundled, and interoperable open networks. Joint Secretary in the DPIIT Sanjiv said that supporting MSMEs (micro, small and medium enterprises) has been a priority for the ONDC. "This will unlock value in the huge B2B (business-to-business) market by increasing access and discoverability of various businesses across the network. "As we look forward to the integration of credit in the ONDC, the business can hugely benefit from the open network ecosystem by being a part of the ONDC," he said here at

We are in inter-ministerial consultation for e-comm policy: DPIIT secy

An inter-ministerial consultation is going on to frame an e-commerce policy which would help in providing a conducive environment for inclusive and harmonious growth of the sector, a top government official said. Secretary in the department for promotion of industry and internal trade (DPIIT) Rajesh Kumar Singh said that broadly the intention is to make the policy work along with the consumer protection rules and not in conflict with each other. The policy aims to prepare strategies for providing a conducive environment for inclusive and harmonious growth of e-commerce sector through a streamlined regulatory framework for ease of doing business, adoption of modern technologies, integration of supply chains and enhancing exports through this medium. "We are in the process of inter-ministerial consultation (to frame the policy)," Singh told PTI. He said that the consumer protection rules and this policy will be separate, but they will not be in conflict with each other and in fact th

Inter-ministerial meet for new industrial policy underway: DPIIT Secy

An inter-ministerial consultation is going on for formulation of a new industrial policy, which would aim at building a globally competitive business environment to increase manufacturing and exports, a top government official has said. This would be the third industrial policy after the first in 1956 and the second in 1991. It is likely to replace the industrial policy of 1991 which was prepared against the backdrop of the balance of payment crisis. "The policy is in the process of inter-ministerial consultation...It will focus on newer set of industries that has now come," Secretary in Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh told PTI. The proposed policy is likely to suggest reforms to foster and create a globally progressive, innovative and competitive industrial ecosystem. The six core objectives of the policy may include focus on competitiveness and capability; economic integration and moving up the global value chain; promoting Indi

Hardening interest rates, geo-political risks impacting FDI inflows: DPIIT

Hardening interest rates globally and worsening geo-political situation have impacted the foreign direct investment (FDI) inflows into India in 2022-23, a top government official said on Tuesday. Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that the department would analyse the reasons for the contraction in FDI in five important sectors like computer hardware and software; construction, education, automobiles and metallurgical industries. "I cannot think of any other reason. It is not as if our FDI policies have become protectionist. On the contrary, we have kept it very very liberal ... The decline is combination of hardening of interest rates along with geo-political risks going up around the world. In general the appetite may be less," Singh told PTI in an interview. These five sectors had a share of USD 30 billion in India's total FDI in 2021-22 and in the last fiscal year, overseas inflows have almost halved. "Why ..

FDI equity inflow contracts 22% to $46 billion in FY23: Govt data

The trading sector amassed $4.79 billion in FDI but contracted YoY

DPIIT takes up startup taxation issue with finance ministry: Secretary

The Department for Promotion of Industry and Internal Trade (DPIIT) has taken up the taxation issue of startups with the finance ministry, a top government official has said. "Startup India does provide such policy advocacy, particularly on the taxation issue. We have been taking that particular issue that many startups are worried about funding from non-residents...and the initial valuation of the startup, how that tax is calculated. We have taken it up," DPIIT Secretary Rajesh Kumar Singh said here at an industry interaction. Post the amendments proposed in the Finance Bill, concerns have been raised over the methodology of calculation of fair market value under the two different laws. The Finance Act, 2023, has amended Section 56(2)(viib) of the I-T Act, thereby bringing overseas investment in unlisted closely held companies, except DPIIT-recognised startups, under the tax net. The Income Tax department is expected to soon come out with certain draft rules to specify the class o

DPIIT seeks GST rate reduction for certain segments of leather sector

Leather products exporters have also expressed resentment over the hike in the GST from 5 per cent to 12 per cent on finished leather

Considering more initiatives to promote growth of leather sector: DPIIT

The commerce and industry ministry is considering extending some initiatives to the leather and footwear sector to further promote the growth of this labour-intensive segment, a senior official said on Tuesday. Additional Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajiv Singh Thakur said that those measures are still at a discussion stage. When asked if the government is looking at extending financial incentives under the PLI (production linked incentive) scheme to the sector, he said "all these things are being considered, but as of now no decision" has been taken. "We are trying to bring in some more initiatives which are under the pipeline," he told reporters here. The department, he said, is trying to create schemes through which availability of raw material can be enhanced to the industry. They are also looking at ways to monitor the imports and there are suggestions for imposing minimum import price (MIP). "All suggestions need to be lo

We are not trying to put anybody out of business through ONDC: DPIIT Secy

The government wants all e-commerce players to become part of the Open Network for Digital Commerce (ONDC) and this initiative is not trying to put anybody out of business, a top official said on Thursday. Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that the idea is to democratise the e-commerce for MSMEs and smaller producers in the remote parts of the country and provide them a level playing field. It's not that we are trying to put anybody out of business, or we are an upfront competitor to any particular portal or any particular e-commerce provider. We are actually inclusive, we want all e-commerce players to be part of this network, Singh told reporters here. The statement assumes significance as there were certain reports that prices of certain food products are much cheaper at the seller apps on-boarded the ONDC initiative as compared to the renowned food delivery services players' prices. Singh said that in the lo

Govt close to finalising e-commerce policy: DPIIT secy Rajesh Kumar Singh

"E-commerce rules and e-commerce policy will be congruent with each other... That exercise is at a fairly advanced stage," Singh told reporters

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 ..