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DPIIT working with 24 key sectors to boost manufacturing, exports

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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 said efforts are on to boost the growth of these sectors in a holistic and coordinated manner.


“Now, 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. The is coordinating action plans for 15 sectors, while the Department of Commerce is coordinating for 12 service sectors.


On Production Linked Incentive (PLI) scheme, the DPIIT said so far 650 applications have been approved under 13 schemes for sectors including air-conditioners, LED lights, telecom and pharma.


“As per recent reporting from implementing Ministries/ Departments, around Rs. 47,000 crore (USD 5.6 billion) of actual investment has been made; production/ sales of Rs. 3.75 lakh crore (USD 45 billion) of eligible products and employment generation of around 2.5 lakh has been reported,” it said.


On promoting ease of doing business, it said that the department has proposed decriminalisation across six laws — The Boilers Act, 1923; The Industries (Development and Regulation) Act, 1951; The Patents Act, 1970; The Trade Marks Act, 1999; The Geographical Indications of Goods Act, 1999; and The Copyright Act, 1957.


“Imprisonment and fine is proposed to be removed for offences such as making false statements/entries in the register (Copyright Act, 1957/Geographical Indications of Goods Act, 1999), improperly describing a place of business (Geographical Indications of Goods Act, 1999 and Trade Marks Act, 1999),” it added.


Further, it said foreign direct investment (FDI) inflow has contracted by 9 per cent to USD 39.10 billion during April-September this fiscal.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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