Page 12 - Dpiit

Budget 2023: 80,000 start-ups exempt from angel tax, says govt

The Union Budget 2023 on Wednesday proposed to extend the angel tax provisions to transactions involving foreign investors

Govt-recognised startups eligible for angel tax exemption: DPIIT Secy

More than 84,000 DPIIT-recognised start-ups in the country, data shows

PM Gati Shakti to help reduce logistic obstacles, improve efficiency: DPIIT

The PM GatiShakti initiative will play a significant role in reducing the logistics cost, increasing efficiency and benefitting businesses, a top government official said on Monday. On October 13 last year, Prime Minister Narendra Modi launched the Gati Shakti- National Master Plan aimed at developing an integrated infrastructure to reduce logistic costs. All logistics and connectivity infrastructure projects, entailing an investment of over Rs 500 crore, are routed through the NPG (network planning group), constituted under the PM GatiShakti initiative. PM GatiShakti "will play a significant role in reducing the logistic obstacles and increase logistics efficiency and benefit the businesses," Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Anurag Jain said here at the inaugural session of B20 Inception Meeting, organised by industry body CII. He also said that the PM GatiShakti portal has over 1,600 data layers related to subjects such as land, ...

India making big strides in ease of doing business, says DPIIT Secretary

All labour laws have been consolidated into four codes, which have been passed by Parliament and the government is in the process of their final implementation, he said

Ministries flout local procurement rules in govt contracts, says DPIIT

Dept says tender terms favourable to foreign firms

DPIIT working on policy for auction of salt land to private players

The Department for Promotion of Industry and Internal Trade (DPIIT) is working on formulating a policy for auction of salt land to private players, sources said. The department had received requests from different ministries, departments, state governments, central and public sector enterprises for transfer of land owned by the Government of India through the Office of the Salt Commissioner, at places other than Mumbai and its suburbs, for public purposes. Sources said that the department is finalising a draft policy on auction of salt land to private players. A drone survey of salt land is also being undertaken. In May last year, the DPIIT had sought applications for the empanelment of valuers in Salt Commissioner's Organization (SCO) for a period of five years. About 60,000 acres of salt land is available in various states. Land declared surplus to the requirement of SCO would be considered for transfer for public purposes in accordance with the General Financial Rules under ..

DPIIT to undertake third party assessment of Startup India Seed Fund Scheme

The Department for Promotion of Industry and Internal Trade (DPIIT) is in the process of undertaking a third party assessment of Startup India Seed Fund Scheme to see its impact on the ground, a senior government official said on Friday. The Rs 945-crore scheme was launched in 2021. It aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization. The fund was divided into four years for providing seed funding to eligible startups through eligible incubators across India. Joint Secretary in DPIIT Shruti Singh said though the department has received "good" feedback from incubators and startups on the scheme, "we are still doing a third party assessment so that somebody on ground can go and see". Over 85,000 startups have been registered with DPIIT, she told reporters here. Startup India was launched by the government on January 16, 2016. Under Startup India, to provide capital at various stages of t

FDI inflows likely to improve in coming months, says DPIIT official

Foreign direct equity investments during April-September declined 14 per cent on year to $26.9 billion, according to Department for Promotion of Industry and Internal Trade (DPIIT) data

DPIIT considering quality control norms for air coolers, water dispensers

The Department for Promotion of Industry and Internal Trade (DPIIT) is looking to bring air coolers, bicycles and bottled water dispensers under the quality norms, a move aimed at containing the import of sub-standard goods and boosting the domestic industry. The department has floated draft control orders (QCOs) for 16 products. The other light-engineering industry products for which these norms are under consideration include pumps, door fittings, cookware and utensils, electrical accessories, communication cable and water meters. "All the industry, apex industry/ associations, sectoral industry/ association, regional industry/ association, respective administrative ministries, concerned R & D institutions/ organizations are requested to furnish their comments on the draft QCOs to this department by January 15," it said. The items under these orders cannot be produced, sold/traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. The DPIIT is in .

DPIIT working on new industrial policy; proposes scheme for Made in India

The Department for Promotion of Industry and Internal Trade (DPIIT) is working on a new industrial policy that proposes to increase financing sources for industry and a scheme for promoting Made in India brand, sources said. It has suggested various ways for wider access to finance for the industry such as setting up of a development finance institution to provide finance at competitive rates and considering using some part of foreign exchange reserves for such funding. The draft - Statement on Industrial Policy 2022 Make in India for the world - has been circulated to different ministries for their views and comments. The proposed policy, sources said, is aimed at addressing issues and challenges of industry through certain policy measures to foster and create an innovative and competitive industrial ecosystem in the country. To achieve the goals, it has identified six objectives such as the focus on competitiveness and capability; economic integration and moving up the global va

Startups to attract large foreign direct investments in 2023: DPIIT Secy

The country's startups will attract significant foreign direct investments (FDI) in 2023 on account of steps being taken by the government to strengthen the ecosystem for budding entrepreneurs, a top government official has said. Secretary in Department for Promotion of Industry and Internal Trade (DPIIT) Anurag Jain said India has the third largest startup ecosystem in the world and the way startups here are performing; soon the country will become a top ecosystem globally. Number of recognized startups is increasing significantly, the Fund of Funds for Startups (FFS) and Startup India Seed Fund Scheme are doing good. Startups too will attract significant FDI in 2023, Jain told PTI. Presently, India has one of the most liberalized FDI policies wherein very few sectors require government approval, he said. The government with an intent to nurture innovation, startups and encouraging private investments in the startup ecosystem of the country launched Startup India initiative on ...

DPIIT considering quality control norms for lighters, sports goods

The Department for Promotion of Industry and Internal Trade (DPIIT) is looking to bring lighters and sports goods under the quality norms, a move aimed at containing the import of sub-standard goods and boosting the domestic industry. The other products for which these norms can be issued include potable water bottles and insulated flasks, resin-treated compressed wood laminates and wooden furniture. The department has floated draft control orders for all these products after consulting the Bureau of Indian Standards (BIS). "Department for Promotion of Industry and Internal Trade has prepared a draft quality control order in respect of lighters in consultation with the Bureau of Indian Standards in order to bring it under mandatory BIS certification keeping in view the human safety and for ensuring the optimum quality of product," according to one of the office memorandums of the department. The items, under these orders, cannot be produced, sold/traded, imported and stocked unless

DPIIT seeks views of ministries on draft national retail trade policy

The Department for Promotion of Industry and Internal Trade (DPIIT) has sought the views of 16 departments and ministries on its draft national retail trade policy, which is aimed at the overall development of all formats of the sector, an official said. After getting comments from all the departments and ministries, DPIIT would seek approval of the Union Cabinet on the policy, the official added. The policy would focus on formulating strategies to provide a globally competitive and sustainable environment for the overall development of retail trade through targeted efforts. The objectives of the policy include ensuring easy and quick access to affordable credit, facilitating modernization and digitisation of retail trade by promoting modern technology and superior infrastructural support; development of physical infrastructure across the distribution chain; promotion of skill development and improve labour productivity, and providing an effective consultative and grievance redressa

DPIIT seeks views of ministries on draft national retail trade policy

The Department for Promotion of Industry and Internal Trade (DPIIT) has sought views of 16 departments and ministries on its draft national retail trade policy, which is aimed at overall development of all formats of the sector, an official said. After getting comments of all the departments and ministries, DPIIT would seek approval of the Union Cabinet on the policy, the official added. The policy would focus on formulating strategies to provide a globally competitive and sustainable environment for overall development of retail trade through targeted efforts. The objectives of the policy include ensuring easy and quick access to affordable credit, facilitating modernization and digitization of retail trade by promoting modern technology and superior infrastructural support; development of physical infrastructure across the distribution chain; promotion of skill development and to improve labour productivity, and providing an effective consultative and grievance redressal mechanism

Commerce ministry working on over 200 quality control orders: DPIIT Secy

The commerce and industry ministry is working on bringing quality control orders (QCOs) for about 200 products, a top government official said on Wednesday. Products under the quality orders cannot be produced, traded or imported without conforming with the Bureau of Indian Standards quality norms and bearing a BIS mark. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Anurag Jain said that QCOs have worked successfully for products like toys. "We are working on more than 200 QCOs," he told reporters here. The department is continuously engaged with BIS (Bureau of Indian Standards) and concerned stakeholders for the identification of products for which these orders could be issued. The DPIIT has already sought views of stakeholders on 16 products for issuance of these quality norms. These products include aluminium and aluminium alloy products; bolts, nuts and fasteners; ceiling fan regulator; conduits and fittings for electrical installations; c

ONDC requires massive efforts before it goes public, says DPIIT secy

Says network needs a certain number of people before it is taken to the public; fashion, home & kitchen, electronics, beauty & personal care categoroes likely to go live in next 4-8 weeks

DPIIT working with 24 key sectors to boost manufacturing, exports

The Department for Promotion of Industry and Internal Trade (DPIIT) is working closely with 24 sectors, including electronics, textiles and auto components, to boost domestic manufacturing, increase exports and cut down imports, an official statement said on Friday. The DPIIT said efforts are on to boost the growth of these sectors in a holistic and coordinated manner. "Now, DPIIT is working closely with 24 sub-sectors which have been chosen keeping in mind the Indian industries strengths and competitive edge, need for import substitution, potential for export and increased employability," it said. These sectors include furniture, air-conditioners, footwear, auto components, aluminium, electronics, agrochemicals, steel, textiles, EV components and integrated circuits, ethanol, ceramics, set top boxes, robotics, televisions, close circuit cameras, toys, drones, sporting goods and gym equipment. It added that the second phase of the Make in India campaign is focusing on 27 sectors. T

Firms' PAN to be identifier for govt single window clearance system

PAN database has relevant information about companies, says commerce minister Piyush Goyal

DPIIT ropes in 5 social sector ministries for infra development

The five ministries/departments are health, ministry of women and child development, department of rural development and panchayat raj, education, and ministry of housing and urban affairs

DPIIT considering quality control norms for ceiling fan, smart meters

The Department for Promotion of Industry and Internal Trade (DPIIT) is considering to come out with quality control norms for certain more products such as ceiling fan and smart power meter with a view to containing imports and production of sub-standard products in the country, an official said. Earlier the department has rolled out these quality control orders (QCO) for a host of goods such as household refrigerating appliances, certain steel and cable items, toys, and bicycles' retro reflective devices. "We are identifying more products. We are thinking of QCOs for ceiling fans and smart meters," the official added. The items, under these orders, cannot be produced, sold/traded, imported and stocked unless they bear the BIS mark. The move comes at a time when the government is working to formulate technical regulations, which include safety and quality standards, for different products with a view to cutting imports of those non-essential items.