Page 6 - Dpiit

Global cos at WEF view India as attractive investment spot: DPIIT secy

India was viewed favourably by major global corporations attending the recently concluded World Economic Forum (WEF) meet at Davos (Switzerland), a top government official has said. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh, who was part of the Indian delegation to WEF, also said that he met several CEOs at Davos and discussed ways to facilitate investments in the country. "During the WEF, there was a distinct uptick in the investment sentiment regarding major corporations, with an observable trend of expansive visions for growth in India," Singh told PTI. He met Martin Lundstedt, President and Chief Executive Officer of Volvo; Gernot Doellner, Chairman and CEO, Audi; and Darrell Brown, President and CEO, Ecolab; among other high-level officials. "At WEF, India's investment landscape was being viewed favourably," he said. Singh added that some of the global companies at Davos provided feedback on the implementation of a ...

EVs adoption key for transition to low carbon economy by 2047: DPIIT secy

The vision to make India a developed nation by 2047 includes a major shift towards electric vehicles, supported by tax incentives, production linked incentive schemes, and the mandatory provision of charging infrastructure, a top government official said on Monday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that the development and adoption of Electric Vehicles (EVs) play a pivotal role in India's transition to a low-carbon economy. "The comprehensive vision for 2047 includes a substantial shift towards electric vehicles across various segments, supported by tax incentives, Production Linked Incentive (PLI) schemes, and the mandatory provision of charging infrastructure," Singh told PTI. He said that a shift in the modal share of freight from road to rail will be an effective lever to decarbonise the freight transport sector. He added that the government's authorisation of 100 per cent Foreign Direct Investment (FDI) for

Trust in elections remains fairly robust in India: DPIIT Secretary Singh

Describing India as an outlier in terms of trust levels in various institutions, DPIIT Secretary Rajesh Kumar Singh on Friday said trust in elections and other institutions continues to remain robust in the country. Speaking here at a session on '4.2 billion people at the ballot box' at the World Economic Forum Annual Meeting 2024, Singh said the election is a mammoth exercise in India and follows a very detailed procedure-based system. "We have delivered credible elections for over 75 years, of which 25 years have been through electronic voting machines," he said, adding that he himself has been involved in the election process in various roles earlier in his career as a civil servant. Asked about the issues before this year's election, the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary said bread and butter issues and development would be among key factors like any other country, while the performance of the present government in the last ten years would

Govt disburses Rs 4,415 cr under different PLI schemes for 8 sectors so far

The government has disbursed Rs 4,415 crore under production-linked incentive (PLI) schemes for eight sectors till October in this fiscal, an official said on Wednesday. During 2022-23, the disbursement was Rs 2,900 crore. "Incentive amount of around Rs 4,415 crore disbursed under PLI Schemes for eight sectors including Large-Scale Electronics Manufacturing, IT Hardware, Bulk Drugs, Medical Devices, Pharmaceuticals, Telecom & Networking Products, Food Processing and Drones and Drone Components," Additional Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajeev Singh Thakur told reporters here. The government in 2021 announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 lakh crore. The schemes aim to attract investments in key ..

Andamans recognised as 'aspiring leader' in states' startup ranking: DPIIT

The Andaman and Nicobar Islands have been recognised as an Aspiring Leader' in the latest States' Startup Ranking of the Department for Promotion of Industry and Internal Trade (DPIIT), officials said. There are 53 recognised startups, including 22 ventures led by women, in the entire archipelago, they said. The key sectors include construction and engineering, travel and tourism and IT. The Andaman and Nicobar Islands have stood out among its counterparts, showcasing the potential to become a prominent hub for emerging businesses and startups among the B' category states (population of less than 1 crore), a senior official said. We are delighted to receive the prestigious title of Aspiring leader' (in the 4th edition of the States' Startup Ranking). The recognition fits very well with our consistent and persistent efforts to establish Andaman and Nicobar Islands as a thriving hub for startups across various domains and sectors, Nikhil Kumar, Commissioner-cum-Secretary (Industries),

Over 50% DPIIT-recognised startups from tier-II and tier-III cities

The states of Gujarat, Karnataka, Kerala, and Tamil Nadu emerged as the "best performers" in developing a startup ecosystem for Indian entrepreneurs

Gujarat, Kerala, K'taka best states in nurturing startup ecosystem: DPIIT

Gujarat and Karnataka are ranked as the 'best performers' in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and Union territories by the Department for Promotion of Industry and Internal Trade (DPIIT). Kerala, Tamil Nadu and Himachal Pradesh are also categorised as the best performers. The ranking is a yearly exercise under DPIIT that evaluates all states and Union Territories on their efforts to build an ecosystem conducive to startup growth. A total of 33 states and Union territories (UTs) participated in the exercise. They are ranked under five categories -- best performers, top performers, leaders, aspiring leaders and emerging startup ecosystems. The states and Union Territories were broadly divided into two sections based on their population size --those having more than 1 crore and the ones with less than 1 crore. Gujarat has been ranked as the best performer for the fourth time in a row. Karnataka has been ranked in this segment

Income tax benefits granted to 2,975 recognised startups: DPIIT

As many as 2,975 government recognised startups have been granted income tax exemptions so far, a senior official said on Monday. Under the Startup India , the government provides income tax exemption. Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that as on December 31 last year, 1,17,254 startups have been recognised by the department. "The number of startups getting income tax benefits was 1,100 till March 2023 and now it has increased to 2,975 startups," he told reporters here. He added that they are in the process of formulating a standard operating procedure for examining and fast-tracking applications for granting eligibility certificates. This certificate is required to claim tax exemptions. The Startup India Action Plan was announced in 2016.

ODOP achieves milestone, enlists 50 Aggregators to promote 'Brand India'

The 50th aggregator is Ayurvedic wellness company Forest Essentials, presenting beauty and wellness ODOP-identified value-added products to a global stage

DPIIT to announce ranking of states, UTs on startup initiatives on Jan 16

The commerce and industry ministry's arm DPIIT on January 16 will announce ranking of states and union territories for 2022 based on initiatives taken for startups, an official said. The exercise aims to evaluate measures taken by states/UTs to boost the startup ecosystem during a specified period. It also aimed at supporting states and Union territories (UTs) in developing their startup ecosystem and learning from each other's best practices. "The ranking is a periodic capacity building exercise developed and released by DPIIT that evaluates states and UTs on their efforts to build an ecosystem conducive to growth of startups," the official said. The major objectives of the ranking exercise are - facilitating states and UTs to identify, learn and replace good practices, highlighting the policy intervention by States and UTs for promoting startup ecosystem and fostering competitiveness among states. The last ranking was released on July 4, 2022 in which Gujarat, and Karnataka were

Govt rolls out mandatory quality norms for electrical accessories

The government has issued mandatory quality norms for electrical accessories such as switch-socket-outlets and cable trunking to curb the import of sub-standard goods and boost domestic manufacturing of these goods. The Electrical Accessories (Quality Control) Order, 2023 was issued in this regard by Department for Promotion of Industry and Internal Trade (DPIIT) on January 1 this year. Under this order, items cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. The order will come into force from six months of the date of publication of the notification, DPIIT said. It added that "nothing in this order shall apply to goods or articles manufactured domestically for export". In order to safeguard the MSME sector, relaxations have been granted to comply with the order. Small industries have been given additional nine months time, while 12 extra months will be given to micro enterprises. DPIIT in consultation with BIS and

Govt to undertake third party assessment of white goods PLI: DPIIT Secy

The assessment will be to see whether the stated objective of the scheme-that intends to make India a manufacturing powerhouse-has been achieved

India will have to eventually move to lower customs duty regime: DPIIT

India will have to eventually move to a lower customs duty regime and cannot continue to protect domestic manufacturers by citing infant industry argument, a senior government official said on Thursday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that tariffs are not really considered a revenue source. Normally, customs duties or tariffs are used as a policy tool to ensure a higher level of protection for certain sectors to boost domestic manufacturing. "The DPIIT's view is that there are possibilities of using tariffs in a creative manner to protect some of our industries, particularly when they are subject to predatory pricing or dumping from certain geographies," he told reporters here. While there is a need to protect sectors which are weak, there is no need to continue with the high tariff walls for segments that are doing well, he added. "But I think, over time, we will have to move to a lower tariff regime overall

52% drop in toy imports in 8 years, 239% jump in exports: Commerce Ministry

The report stated that India is emerging as a top exporting nation due to the country's integration into the global toy value chain

PLI schemes for new sectors not being considered at present: DPIIT Secy

The government will focus on the existing PLI schemes for 14 sectors and for the time being is not considering to include new sectors like toys in the programme, a top official said on Thursday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said the Production-Linked Incentive (PLI) scheme for 14 sectors such as pharma, white goods, and electronics are doing good. "Currently we are focused on getting these 14 PLIs. All are up and running in a good way. So for the time being, the new PLIs are not being considered and we will focus on ensuring that these existing schemes get implemented well and thereafter we will see," Singh told reporters here. The government has earlier planned to extend the scheme for new sectors such as leather, toys, and new-age e-bikes to utilise the remaining amount earmarked for the 14 sectors. The PLI scheme was announced in 2021 for 14 sectors such as telecommunication, white goods, textiles, manufactur

Govt relaxes quality control order norms for ACs to enable ease of business

Quality control orders (QCOs) issued by the government aim to not only improve the quality of manufacturing standards but also enhance the brand and value of 'Made in India' products

Govt relaxes certain quality control order norms for AC manufacturers

The government has relaxed quality control order (QCO) norms for the air conditioner industry to promote ease of doing business. The order was issued in 2019 and it came into effect from October last year. These relaxations have been given after a detailed stakeholder consultation with the industry. To resolve the issues faced by the industry due to the order, the Department for Promotion of Industry and Internal Trade (DPIIT) has introduced amendments. According to a government notification, Hermetic Compressors of more than 7000 W (2 TR) capacity have been removed from the order for one year for the manufacturers of air conditioning and refrigeration equipment and related parts. It has also exempted 200 numbers of goods or articles imported per year for the purpose of research and development by the manufacturers. These imported goods and articles however will not be allowed to be sold in the market and should be disposed of as scrap. "The OEMs (original equipment manufacturer

India launches a single-window portal for medical devices management

The Drugs Controller General of India said that the National Single Window System (NSWS) has been established as a 'genuine single-window system which acts as a one-stop shop for all approvals'

States, ministries to make 'checklist' to manage data for Gati Shakti NMP

DPIIT, which is responsible for overseeing Gati Shakti NMP, has also prepared a document - a crucial resource for clarity and data management practices - for relevant stakeholders

National e-commerce policy in final stages, may be announced soon: Goyal

The proposed national e-commerce policy being formulated by the commerce and industry ministry is in the final stages and expected to be announced very soon, Union Minister Piyush Goyal said on Thursday. In August, the Department for Promotion of Industry and Internal Trade (DPIIT) held a detailed discussion with representatives of e-commerce firms and a domestic traders' body on the proposed policy. "It is at the final stages of discussion at the highest level in the government. We hope to come out very soon," the commerce and industry minister told reporters here when asked about the policy. Earlier, the ministry issued two draft national e-commerce policies. The 2019 draft proposed to address six broad areas of the e-commerce ecosystem - data, infrastructure development, e-commerce marketplaces, regulatory issues, stimulating domestic digital economy and export promotion through e-commerce. Domestic traders body CAIT has time and again demanded roll out of the policy as they ..