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Commerce and Industry

Notification of Registration and Licensing of Industrial Undertaking (Amendment) Rules, 2019

G.S.R (E).- Whereas draft of certain rules further to amend the Registration and Licensing of Industrial Undertakings Rules, 1952, were published, as required by sub-section (1) of section 30 of the Industries (Development and Regulation) Act, 1951 (65 of 1951), vide notification of the Government of India in the Ministry of Commerce and Industry (Department for Promotion of Industry and ...

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Commerce Ministry through ECGC raises Insurance cover for Banks up to 90% for Working Capital Loans

Union Minister of Commerce & Industry and Railways, Piyush Goyal informed about the details of the Export Credit Insurance Scheme (ECIS) in New Delhi today at a press conference. Minister of State for Commerce & Industry, Hardeep Singh Puri was also present. The scheme was announced by the Finance Minister, Nirmala Sitharaman, as part of measures to boost exports, on ...

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Measures to Enhance IPR Ecosystem through Lower Fees; Nurturing Innovation and creativity in a knowledge economy essential – Piyush Goyal

Recognising the importance of nurturing innovation and creativity in a knowledge economy, India is taking great strides in strengthening its intellectual property ecosystem. Further, given the key role played by MSMEs in the economic growth of India, it is proposed to reduce the fees for various IPRs as follows: IPR ACTIVITY CATEGORY CURRENT FEES PROPOSED FEES REDUCTION (%) PATENTS FILING ...

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Cabinet approves proposal for Review of FDI policy on various sectors 

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal for Review of Foreign Direct Investment on various sectors. Major Impact and Benefits from FDI Policy Reform The changes in FDI policy will result in making India a more attractive FDI destination, leading to benefits of increased investments, employment and growth. In the coal sector, ...

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WTO reforms must be taken up by all member countries: Piyush Goyal 

The time has come to take on the policies of protectionism and unilateral measures by some developed countries that are having an adverse effect on global free trade and if this continues there will be recession in the world and no country will escape it, said Union Minister of Commerce & Industry and Railways, Piyush Goyal. He was speaking at ...

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Selected areas for SEZs 

There were 7 Central Government Special Economic Zones (SEZs) and 12 State/Private Sector SEZs prior to the enactment of the SEZ Act, 2005.  In addition, 416 proposals for setting up of SEZs in the country have been accorded formal approval under the SEZ Act, 2005.  Presently, 351 SEZs are notified, out of which 232 SEZs are operational.  States/Union Territories-wise details ...

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Index Numbers of Wholesale Price in India (Base: 2011-12=100) Review for the month of June,2019 

The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of June,2019 rose by 0.2% to 121.5 (provisional) from 121.2 (provisional) for the previous month. INFLATION The annual rate of inflation, based on monthly WPI, stood at 2.02% (provisional) for the month of June,2019 (over June,2018) as compared to 2.45% (provisional) for the previous month and 5.68% ...

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Misuse of Export Promotion Schemes 

Foreign Trade Policy of the Government contains certain export promotion schemes which are primarily aimed at (i) providing customs duty exemption on import of capital goods for promotion of exports, (ii) providing customs duty exemption on raw materials, components and consumables for manufacturing goods for exports and (iii) providing compensation for neutralizing the disadvantages suffered on the goods and services ...

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Pharmaceutical and Export Promotion Council 

Pharmaceutical Export Promotion Council of India (Pharmexcil) was set up by the Ministry of Commerce & Industry in 2004 with a mandate to promote Pharmaceuticals exports and is playing the role of a facilitator in promoting exports of pharmaceutical products. The Indian pharmaceutical industry, through participation in various trade events and fairs have been able to enhance its presence and ...

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Tea Gardens 

At present, there are 1585 number of established tea gardens in the country.  The names of the companies operating the tea gardens as per the Baseline Survey conducted in the year 2015 by the Tea Board is given in Annexure-1.  The details of total number of permanent /temporary workers state-wise as per the Baseline Survey conducted by the Tea Board ...

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