Page 8 - Dpiit

STPI starts inviting applications for LEAP programme to fund 75 startups

State-owned STPI has started inviting applications from startups under its Leap programme to fund entrepreneurs in collaboration with venture capitalists and other private investors, a senior official of the organisation said on Monday. Software Technology Parks of India (STPI) will select 75 startups under the programme this year and facilitate funding of up to Rs 1 crore in each startup in collaboration with venture capital firms and angel investors. "We have already invested Rs 25 lakh through NGIS. We have already made investment in about 100 startups from the total fund that we have. Through Leap we are looking to nurture the next 100 startups," STPI Director General Arvind Kumar said. He said that the Leap (Launchpad for Tech Entrepreneurs towards Accelerated growth and Pioneering Ahead) will be organised at places closer to startups in cities like Bhubaneswar, Chandigarh, Vijayawada with an idea that they should not be required to leave their city for growing their ...

Govt looks to onboard consultants amid work on investment treaties

These treaties are either in the form of a standalone investment treaty-Bilateral Investment Treaty (BIT)-or an investment chapter (IC) within a Free Trade Agreement (FTA)

New angel tax regime: No scrutiny of recognised startups, says CBDT

The angel tax is on the amount received by a company above the fair market value as income

Indian patent office to hire 900 people to enhance manpower: DPIIT secy

Indian patent office (IPO) will be hiring 900 more people with a view to enhance manpower for processing the increasing number of intellectual property applications, a top government official said on Friday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that patent filing has increased by ten times and trademark application filing by six times since 2016. "We are trying to strengthen the capacity of our IPO to process these proliferation of applications. We are going to add 900 new positions for which recruitment is already underway in our patent office," Singh said at the national intellectual property conference. He also said that steps taken by the government has helped India improve its global innovation index rankings. India retained its 40th rank out of 132 economies in the Global Innovation Index (GII) 2023 rankings, according to a report by the Geneva-based World Intellectual Property Organization. Though the ranki

Govt tweaks PLI white goods scheme norms for simplifying operation

The changes have been made on the basis of various suggestions received from the beneficiaries as well as industry association.

White good PLI beneficiary should obtain cost certificate for sales: DPIIT

Companies selected under the production-linked incentive scheme (PLI) for white goods will have to submit a certificate from a registered cost accountant with regard to related party sales and computation of the arm's length price for availing benefits of the scheme. Making certain changes in the guidelines of the PLI scheme for promoting domestic manufacturing of white goods (air conditioners and LED lights), the Department for Promotion of Industry and Internal Trade (DPIIT) said that the administrative ministry may also visit the manufacturing facilities to review the scheme's progress, and directly solicit feedback from the industry. Based on the requests and suggestions received from various applicants and industry associations and with a view to simplifying the operation of the scheme, the department has made certain revisions to the scheme guidelines issued by the DPIIT on June 4, 2021. According to the department, regarding captive consumption and sales to related party, ...

Govt may liberalise FDI norms for space sector: DPIIT secy Rajesh Kumar

The government may liberalise foreign direct investment norms for the country's Space sector, as it eyes further improvement in ease of doing business, a top official said on Friday. Presently, Foreign Direct Investment (FDI) in the Space sector is allowed up to 100 per cent in the area of Satellites-Establishment and Operations through government route only. While addressing a road-show event for the Vibrant Gujarat Summit to be held on January 10-12, 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said, the government may liberalise FDI norms for the country's Space sector. Speaking on the government's policies, he said, FDI liberalisation has substantially been achieved in India except for a few strategic sectors. "We've tried to maintain an almost Open Sky policy for almost all sectors of the economy. Though that liberalisation will continue and we may expand it further to even some of our sectors like Space as well. The .

Centre to hold PLI scheme payouts' crucial mid-year review next week

DPIIT gearing up for mid-year performance review of 14 flagship schemes

DPIIT, Gati Shakti Vishwavidyalaya ink pact to advance national master plan

The Department for Promotion of Industry and Internal Trade (DPIIT) and Gati Shakti Vishwavidyalaya on Wednesday signed a pact for advancing the PM Gati Shakti National Master Plan. Under the MoU, the university will be the nodal agency across the country to design, develop and deliver courses and curriculum related to PM Gati Shakti National Master Plan and National Logistics Policy at various centres in different states, an official statement said. It was signed by Gati Shakti Vishwavidyalaya Vice-Chancellor Manoj Choudhary and Joint Secretary, Logistics Division, DPIIT, E Srinivas, in the presence of Commerce and Industry Minister Piyush Goyal and Railways Minister Ashwini Vaishnaw. More than 16 central ministries and NITI Aayog came together for the signing of the MoU. Vaishnaw emphasised on the importance of the industry-focussed and innovation-driven university courses on railway, metro and high-speed railways. Vaishnaw said 15,000 students will be offered aviation-focussed

Govt bans manufacturing, imports of electric detonator from April 2025

The government has decided to ban manufacturing, possession and imports of electric detonator from April 2025 in view of security concerns and public safety. In a notification, the Department for Promotion of Industry and Internal Trade (DPIIT) has said that the central government is of the opinion that electric detonator is of a "dangerous" character. It is expedient for the security concerns and public safety to prohibit the manufacturing, possession and import of electric detonator, it said. It added that the government, after consultation with stakeholders of explosives industry, in the public interest has decided that its production shall be completely phased out by the end of 2024-2025. "The central government hereby prohibits the manufacture, possession and import of the electric detonator...throughout the country with effect from the 1st day of April, 2025," the notification, dated September 29, has said.

The curious case of govt-owned Bank Note Paper Mill's private status

Indovative Products, a Delhi-based start-up that manufactures currency packaging products, submitted its bids but was rejected on the technical ground that it lacked "past experience"

Road secy Anurag, ex-DPIIT official Anil join ONDC's advisory council

Road, Transport and Highways Secretary Anurag Jain and former additional secretary in the department for promotion of industry and internal trade (DPIIT) Anil Agarwal have become new members in the advisory council of ONDC, an official said. With this, the total members of the council will be 13. The council was set up in 2021 by the government to accelerate the adoption of the open network for digital commerce (ONDC), the official said. Other members of the council include Nandan Nilekani from Infosys; National Health Authority Chief Executive Officer R S Sharma; Chairperson, capacity building commission, Adil Zainulbhai; Avaana Capital Founder Anjali Bansal; Joint Secretary, DPIIT, Sanjiv; and Digital India Foundation Co-Founder Arvind Gupta. ONDC aims to promote an open platform for all aspects of e-commerce retail. It would help small retailers expand their business through e-commerce medium and reduce dominance of giants in the sector. ONDC, a non-profit company, formulates a

Patient Groups raise concerns over proposed draft of patent rules

Public health experts concerned changes could make it more difficult to access affordable medicines

Looking at further easing FDI norms in space sector: DPIIT secretary

The government is looking at further easing foreign direct investment (FDI) norms in the space sector to attract overseas players, a top official said on Monday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that huge scope is there for Saudi Arabian companies to invest in India in different sectors such as aviation, pharma, bulk drugs, renewable energy, food processing and agrti-tech. "There is tremendous scope for collaboration... such as in artificial intelligence, robotics, cyber security, automation and space, where we are looking to further liberalise our foreign direct investment norms to bring in private sector and foreign investment in our space sector," Singh said at the India-Saudi Arabia investment forum meet here. Presently FDI in space sector is allowed up to 100 per cent in the area of satellites establishment and operations through government route only. He added that several Saudi Arabian companies have ...

PM GatiShakti effective mechanism for fast-tracking infra: DPIIT official

The PM GatiShakti initiative is an effective mechanism for fast-tracking infrastructure projects and bringing socio-economic area-based development, an official statement said on Thursday. The remark was made by Special Secretary (Logistics) in the Department for Promotion of Industry and Internal Trade (DPIIT) Sumita Dawra during a regional cooperation and integration conference, organised by the Asian Development Bank (ADB) at Tbilisi, Georgia, on September 5-7. The objective of the conference was to explore ways to integrate an area-centric approach with economic corridor development (ECD) and strengthen regional cooperation. The commerce and industry ministry statement said that while global pioneers were brought together by ADB to brainstorm over broadening the scope of its ECD framework for regional cooperation, the special secretary highlighted that India has already operationalised the initiative for infrastructure development. PM GatiShakti NMP, a GIS data-based digital ..

AI-driven planning is Gati Shakti's new frontier, says DPIIT official

"Comprehensive examination and collaboration are crucial before moving forward. A systematic approach is being developed to involve the private sector in Gati Shakti"

'E-commerce policy in final stages; to be presented before top-level'

The proposed national e-commerce policy being formulated by the commerce and industry ministry is in the final stages and no new draft policy will be issued now for seeking views of stakeholders, a senior government official said. The Department for Promotion of Industry and Internal Trade (DPIIT) on August 2 held a detailed discussion with representatives of e-commerce firms and a domestic traders' body on the proposed policy. In that meeting, a broad level of consensus emerged among the concerned stakeholders on the proposed policy. "Now no draft policy will come. That exercise is over now. We are just getting a final sign off, the official, who did not wish to be named, said, adding there will be a presentation of the proposed policy at the top level of the government. On data localisation, the official said that the e-commerce companies would have to follow the law of the land. Earlier the ministry had issued two draft national e-commerce policies. The 2019 draft proposed to

11 industrial corridors being developed across the nation, says Centre

The Department for Promotion of Industry and Internal Trade (DPIIT) has sanctioned and released funds amounting to Rs 9,899.89 crore for the industrial corridor project

PLI scheme incentive disbursement likely at Rs 13,000 crore in FY24

Separately, Singh noted that the Centre is working to modify the scheme for sectors that have not performed as expected

Disbursement under PLI scheme to hit Rs 13k crore this year: DPIIT secy

The government is expected to disburse about Rs 13,000 crore to eligible firms seeking benefits under the production linked incentive (PLI) schemes, even though an exercise is going on to tweak the scheme for those sectors which have not yet picked up well, a top official said on Friday. Secretary in the Department for promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that from the current year onwards, the disbursal number will be significantly larger. The disbursals "I think will go to about Rs 13,000 crore this year", he told reporters here. The government disbursed only Rs 2,900 crore till March 2023 out of Rs 3,400 crore claims received under the scheme so far. The scheme was announced in 2021 for 14 sectors such as telecommunications, 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 ...