Rules of Business have to be same for all

Rules of Business have to be same for all, says Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Shri Piyush Goyal


“We must position India as a global player by becoming competitive”: Shri Goyal

Logistics Portal to bring in ‘Ease of Doing Business’ and bring in transparency

Best practices in exports development should be shared

World is looking at India as Favoured Investment Destination

Innovation, Quality and Competition by Exporters is going to define the Brand India

Vanijya Saptah events organized by Ministry of Commerce & Industry throughout the country have been a huge success, says Minister

Ministry of Commerce & Industry Press Release
Posted Date:- Sep 27, 2021

The Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Shri Piyush Goyal today said, the ‘Rules of Business’ have to be the same for all stakeholders. Addressing the ‘Vanijya Saptah Samapan Samaroh’, organised by the Federation of Indian Export Organisations (FIEO) here today, Shri Piyush Goyal said, “Irrespective of whether they are big or small business houses, or where they are from or any other differentiating factor, we would like everybody to have equal opportunity to do their businesses honestly, and grow their businesses.”

The Commerce Minister said accountability and stipulated timelines should be there and Best Practices of various States or Ministries in Exports Development must be shared. Without setting a timeline, Shri Piyush Goyal said the Government plans to scale $1 trillion exports in both Merchandise and Services. “We must position India as a global player by becoming competitive,” he said.

Referring to the Prime Minister Shri Narendra Modi’s recent visit to the United States, Shri Goyal said, many leading entrepreneurs have shown keen interest to invest in India during the PM’s meeting with heads of multinationals. Launching the ‘Ease of Logistics’ portal, the Minister said it will bring in transparency. Shri Goyal said the world is looking at India as the Favoured Investment Destination. “Innovation, Quality and Competition by Exporters is going to define the Brand India,” he said.

Shri Piyush Goyal complimented the FIEO and the entire fraternity of exporters for the unprecedented success of events during the Vanijya Saptah including Vanijya Mahotsavs. Shri Goyal said events were organised in all 739 districts of the country during the ‘Azadi Ka Amrit Mahotsav’ observed by the Ministry of Commerce and Industry and all its offices during the last week. He said, over one crore people were directly or indirectly involved with the week-long celebrations, he said. The various events across the country were addressed by 23 Union Ministers, 9 Chief Ministers, 3 Lt. Governors and 26 Ministers of State.

Government to start and institutionalise 24 hours “Helpline” for assistance to exporters and resolution of issues

Ministry of Finance & Commerce Press Release dated 20 Sept 2021

Government to start and institutionalise 24 hours “Helpline” for assistance to exporters and resolution of issues- Shri Piyush Goyal


Our aim is to make ‘Brand India’ a representative of quality, productivity, talent & innovation – Shri Piyush Goyal

Vanijya Saptah shows our strong resolve in Building a strong India of Tomorrow- Shri Goyal

Uttar Pradesh has made a commendable progress in Industrial growth and Exports – Shri Piyush Goyal

Shri Piyush Goyal launches nationwide Vanijya Saptah” at SEZ NOIDA to commemorate Azadi ka Amrit Mahotsav.

Improvement in Law and order has made doing business and trade much easier and safer in UP: – Shri Goyal

Need to jointly create a road map for next 25 years and contribute to make India a world leader in Business and Trade – Shri Goyal

75 years ago all worked to get Swarajya, now all must work. Mission mode to be Aatmanirbhar- Shri Piyush Goyal

“Government is going to Institutionalise a 24 hours “Helpline” for assistance to exporters and resolution of issues “said Shri Piyush Goyal today at the launch of nation wide celebrations of iconic week for Amrit Mahotsav for Commerce & Industry Ministry .

Shri Piyush Goyal said that our aim is to make ‘Brand India’ a representative of quality, productivity, talent & innovation”, while delivering “Keynote address at Launch of Vanijya Saptah” at SEZ NOIDA to commemorate Azadi ka Amrit Mahotsav.

It may be noted that Commerce and Industry Ministry is launching 7 days of special events across the country today to celebrate & commemorate 75 years of progressive India as part of the ‘Azadi Ka Amrit Mahotsav’ celebrations

Shri Goyal said that Uttar Pradesh has made a commendable progress in Industrial growth and Exports Improvement in Law and order has made doing  business and trade much easier and safer in UP.

He added that there was  need to jointly  create a road map for next 25 years and contribute to make India a world leader .

The Minister said that reforms in social sectors have made the development wholesome .Path breaking Expansion of health programs, Toilets Infrastructure have been a major success and made the devlopment inclusive.

Availability of electricity, cooking gas to households have made an extra ordinary impact on lives of crores of citizens of the country, who never had those benefits before.

Shri Goyal said that  PM Modi’s call for ‘Azadi Ka Amrit Mahotsav’ is a tribute to our freedom fighters & freedom movement and  it is an opportunity for us to inspire & reignite new fervour, exuberance & enthusiasm

The Minister said that ‘Vanijya Saptah’ embodies a pan-India character and will reflect spirit of Jan-andolan and Jan-bhagidari

Ministry of Commerce & Industry has curated Vanijya Saptah has been   around the 5 pillars of Azadi ka Amrit Mahotsav i.e. Freedom Struggle, Ideas @ 75, Achievements @ 75, Actions @ 75 and Resolves @ 75. Some of activities planned during this week include –

○Inclusive activities for stakeholders, States & people’s participation highlighting Aatmanirbhar Bharat, showcasing India’s rise as economic force

○Sessions focusing on ‘From Farm to Foreign Lands’ (>10 lakh tea plantation participants)

○ ‘Vanijya Utsav’ covering all 739 districts

○ 35 Export Promotion Events / Exhibitions, in each State / UT by EPCs

○ Virtual Investor Summit in North East

○ Swachhta campaign & tree plantation by 250 SEZs

 ○ 5 National Seminars / exhibitions and National Essay competition, etc. will be organised

Shri Goyal added that 75 years ago all worked to get Swarajya, now all must work in mission mode to be Aatmanirbhar. Modi Govt as a facilitator of this mission has introduced several reforms for inclusive growth.

The Minister for Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution said that Centre has taken a series of measures to give further impetus to growth and job creation like Reduction in Corporate Tax, Liberalisation of FDI Regime, Single Window Clearance, ODOP, etc.

Shri Goyal added that despite COVID-19, due to decisive & bold leadership of PM, our economy is reviving and exports are increasing significantly.

The Minister noted that FDI Inflows are highest & industry is on a high growth path. He said that FDI has increased by 10% to $ 81.72 bn from $ 74.39 bn (2019-20) and highest ever merchandise exports have been recorded in a quarter (Q1 2021-22, $ 95 bn)

Revamped Gold Monetisation Scheme, reduction in import duty of gold to help the industry to grow to the next level

Revamped Gold Monetisation Scheme, reduction in import duty of gold to help the industry to grow to the next level: Anupriya Patel


Reforms would help the industry to achieve export target of US$ 43.75 billion this year and gems and jewellery exports to USD 75 billion in coming years: Anupriya Patel

The Gems & Jewellery sector contributes around 7% to GDP and employs 5 million persons

The Gems & Jewellery sector is one of the important sectors of Indian Economy, with a contribution of around 7% to GDP, 10-12% share in country’s total merchandise export and being one of the leading sectors in terms of employment generation providing employment to approx. 5 million skilled and semi-skilled workforce.

The Minister of State for Commerce and Industry, Anupriya Patel said that she is pleased to learn that without any significant domestic production of raw materials, India has emerged as the leader in diamond manufacturing and export along with being one of largest exporter of other segments of industry such as gold jewellery, silver jewellery, coloured gemstones and synthetic stones. As such, gems and jewellery sector is an ideal example ‘Make in India’, the vision of Honourable Prime Minister.

She informed that the Gems and Jewellery sector has been one of the worst-hit sectors in India during the Covid-19 pandemic and its exports saw a record decline of (-) 98% in April 2020 due to the complete lockdown situation in the country.

However, the GJEPC, being apex body of gems and jewellery exporters, has undertaken prompt measures in terms of constantly interacting with the industry, understanding their requirements, and working closely with the government so as to chalk out the desired measures for supporting the industry in terms of sustaining, surviving and reviving back even amid a critical situation like Covid-19.

Consequent to such measures, the sector shown swift recovery as declining rate of gems and jewellery exports fell to (-) 6 % in Q3 as compared to (-) 72 % recorded in quarter 1  and in Q4 exports of the gems and jewellery witnessed a positive growth of around 15%. This trend has continued this year also and gems and jewellery exports achieved pre-Covid level of exports amounting US$ 9.2 billion in Q1 2021-22.

On the policy front, the Government has introduced a number of reforms, such as the revamped Gold Monetisation Scheme, reduction in import duty of gold, hallmarking, etc. which would help the industry to grow to the next level. Other issues flagged by GJEPC and industry from time to time are also being looked into and expected to be resolved soon.

She said that she’s sure this would not only help the industry to transform but will take the exports on a steep upward trajectory. This would help the industry to achieve export target of US$ 43.75 billion this year as well as to achieve goal of GJEPC to take gems and jewellery exports to USD 75 billion in coming years.

With support of the Government, GJEPC organized various virtual trade events last year like virtual Buyer Seller Meets, virtual IIJS, virtual International Gems & Jewellery Show (e-IGJS), India Global Connect, Webinars etc. These initiatives have helped the industry to bounce back quickly as the pandemic receded and global markets opened up.

She said that she has been informed that IIJS Premiere is the country’s largest B2B show in gems and jewellery sector and also the first show being organized by GJEPC in physical format after the onset of the COVID-19 pandemic. 

“I am confident that the show would provide platform to Indian jewellery manufacturers to showcase versatile jewellery crafted with the highest standards of design and finish and also to work with retailers, enabling them to gain insights into demand trends and product designs. On the other hand, the show would cater to the sourcing needs of the domestic and international buyers before the start of the festive season,” the MoS said.

She also wished the 37th edition of IIJS Premiere a tremendous success!

Ministry of Commerce & Industry Press Release dated 15th Sept 2021

MSME Tool Room CITD, Hyderabad bags Patent for “Anaar” (Fireworks) making Machine & another step towards Atma Nirbhar Bharat and Industrial Safety

The MSME Tool Room, Hyderabad,Central Institute of Tool Design (CITD) has obtained a patent for the invention entitled “AUTOMATIC MACHINE FOR THE PRODUCTION OF CONICAL SHAPED FIREWORKS” for 20 years from the 10th November,2015.

Central Institute of Tool Design signed an MOU with M/s. Standard Fireworks Pvt. Ltd.,(SFPL), Sivakasi and finalized orders worth Rs11.49 crorefor machines for automation processes for various firework projects.SFPL initially had placed an order worth Rs300 lakh for filling up of flower pots and packing, chakkar filling and chakkar winding.  As a first project, CITD has taken up for Module-1 (consisting of flower pot chemical filling and packing). The total project consists of 10 different stations like paper cutting & pasting, chemical filling, washer insertion &ramming, mud filling & sealing etc. 

The aim of project is to automate the entire above process for relieving human fatigue and to save human from hazardous environment. The entire process is minimal human intervention. Hence, it is safe for humans to handle the machine in Fireworks Industry.

This is the first of its kind with fully indigenous technology. CITD and SFPL  had filed a joint patent  application for this innovation.The uniqueness of machine is that it completely works on pneumatic system for entire process of manufacturing. There is no electrical or electronics system used in process. Therefore, this can avoid most of the fire accidents in field of fireworks industries. Trials were conducted by customer with original chemical in flowerpots and attaining the target production cones of 120 pieces per minute.

The Manual Process of Flowerpot making (Before automation) is shown below :

FLOWERPOT AUTOMATION (SPM)

The photograph of the Machine is given below

CITD is a Govt. of India organisation working under the administrative control of Ministry of MSME. It was established in the year 1968 and is a pioneering institution in training technical personnel in the field of Tool Design, CAD/CAM, Low Cost Automation etc. The Institute is conducting  training courses right from Diploma level to Post Graduation.

Ministry of Micro,Small & Medium Enterprises Press Release dated 10th Sept 2021

Centre Revises “Transport and Marketing Assistance” (TMA) scheme for Specified Agriculture Products

Centre Revises “Transport and Marketing Assistance” (TMA) scheme for Specified Agriculture Products’


Dairy products, which were not covered under the earlier scheme, will be eligible for assistance

Rates of assistance have been increased, by 50% for exports by sea and by 100% for exports by air
Posted Date:- Sep 10, 2021

Centre has revised “Transport and Marketing Assistance” (TMA) scheme for Specified Agriculture Products’.

In February 2019, the Department of Commerce had introduced ‘Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme’ to provide assistance for the international component of freight, to mitigate disadvantage of higher freight costs faced by the Indian exporters of agriculture products. The scheme was initially applicable for exports effected during the period from 01.03.2019 to 31.03.2020 and was later extended for exports effected up to 31.03.2021.

Now the Department has notified ‘Revised Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme’ for exports effected on or after 01.04.2021 up to 31.03.2022. The existing scheme will remain in operation for exports effected up to 31.03.2021.

Following major changes have been made in the revised scheme:

•           Dairy products, which were not covered under the earlier scheme, will be eligible for assistance under the revised scheme.

•           Rates of assistance have been increased, by 50% for exports by sea and by 100% for exports by air. Details are as under:

            Rates of Assistance (in INR)

            Region Amount Per TEU (Normal)    Amount Per TEU (Reefer)By Air

            (Amount per kilogram)

            ExistingRevisedExistingRevisedExistingRevised

West Africa     11200  16800  19600  29400  0.841.68

East Africa      11200  16800  21000  315000.841.68

Europe 9800    14200  21000  31500  1.122.24

Gulf     8400    12600  14000  21000  0.701.40

North America21000  31500  28700  43050  2.805.60

ASEAN          5600    8400    12600  18900  0.701.40

Russia & CIS  12600  18900  22400  33600  0.701.40

Far East           8400    12600  12250  18375  0.841.68

Oceana            16800  25200  24500  36750  2.805.60

China   0012600189000.84     1.68

South America23800  35700  31500  47250  3.507.00

The Directorate General of Foreign Trade (DGFT) will shortly notify the procedure for availing assistance under the revised scheme.

Enhanced assistance under the revised scheme is expected to help Indian exporters of agricultural products to meet rising freight and logistics costs.

Ministry of Commerce & Industry Press Release dated 10th Sept 2021

Government Provides Big Boost to Exporters

Government Provides Big Boost to Exporters


Rs. 56,027 crore is going to be released under various Export Promotion Schemes

Benefits would be disbursed to more than 45,000 exporters, out of which about 98% are small exporters in the MSME category.

Centre has provided a massive relief to the exporters.

This amount is over and above duty remission of Rs 12,454 crore for the RoDTEP scheme and Rs 6,946 crore for RoSCTL scheme already announced

Benefits would help sectors to maintain cash flows and meet export demand in international market

This support would have a multiplier effect and spur employment generation

Robust export growth is being witnessed in recent months and this decision will lead to an even more rapid export growth in coming months

Under the decisive leadership of Hon’ble Prime Minister Shri NarendraModi, Government of India has decided to budget Rs 56,027 crore in this Financial Year FY 21-22 itself in order to disburse all pending export incentives due to exporters. This amount includes claims relating to MEIS, SEIS, RoSL, RoSCTL, other scrip based schemes relating to earlier policies and the remission support for RoDTEP and RoSCTL for exports made in the 4th quarter of FY 20-21. Benefits would be disbursed to more than 45,000 exporters, out of which about 98% are small exporters in the MSME category.

The amount of Rs 56,027 crores of arrears is for different export promotion and remission schemes: MEIS (Rs 33,010 crore), SEIS (Rs 10,002 crore), RoSCTL (Rs 5,286 cr), RoSL (Rs 330 crore), RoDTEP (Rs 2,568 crore), other legacy Schemes like Target Plus etc (Rs 4,831 crore). This amount is over and above duty remission amount of Rs 12,454 crore for the RoDTEP scheme and Rs 6,946 crore for RoSCTL scheme already announced for exports made in this year i.e. FY 2021-22.

Exports in India have seen robust growth in recent months. Merchandise exports for April-August, 2021 was nearly $164 billion, which is an increase of 67% over 2020-21 and 23% over 2019-20. This decision to clear all pending export incentives within this financial year, will lead to even more rapid export growth in coming months.

For merchandise exports, all sectors covered under MEIS, such as Pharmaceuticals, Iron and steel, Engineering, Chemicals, Fisheries, Agriculture and allied Sectors, Auto and Auto Components would be able to claim benefits for exports made in earlier years. Benefits would help such sectors to maintain cash flows and meet export demand in international market, which is recovering fast this financial year.

Service sector exporters, including those in the travel, tourism and hospitality segments will be able to claim SEIS benefits for FY 2019-2020, for which Rs 2,061 crore has been provisioned. The SEIS for FY 2019-20 with certain revisions in service categories and rates is being notified. This support would have a multiplier effect and spur employment generation.

The apparel sector, which is a major labour-intensive sector, would get past arrears under ROSCTL and ROSL, and all stakeholders in the interconnected supply chains would be strengthened to meet the festive season demand in international markets.

Export claims relating to earlier years will need to be filed by the exporters by 31st December 2021 beyond which they will become time barred. The Online IT portal will be enabled shortly to accept MEIS and other scrip based applications and would be integrated with a robust mechanism set up by Ministry of Finance to monitor provisioning and disbursement of the export incentives under a budgetary framework.

A decision to clear all pending export incentives within this Financial Year itself despite other budgetary commitments arising out of the pandemic is with the objective of providing timely and crucial support to this vital pillar of Indian economy.

***

DJN

Ministry of Commerce & Industry Press Release dated 09 Sept 2021

For boosting exports prospects and farmers income, APEDA inks MoUs with ICAR-Indian Institute of Millet Research

For boosting exports prospects and farmers income, APEDA inks MoUs with ICAR-Indian Institute of Millet Research


Key focus of the MoU is to promote commercial cultivation of processable varieties of Millet

MoU also envisages creation of market linkages with farmers as well as Farmer Producers Organizations

MoU will build the export centric ecosystem and value chain for these forgotten crops

Both the organizations would jointly develop an export strategy and schemes for increasing exports of millets

Ministry of Commerce & Industry Press Release dated Sep 03, 2021

For increasing exports through quality production and processing, Agricultural and Processed Food Products Export Development Authority (APEDA) today signed a Memorandum of Understanding (MoU) with ICAR-Indian Institute of Millet Research (ICAR-IIMR) which is expected to boost value addition and farmers’ income.

The key focus of the MoU would be to promote commercial cultivation of processable varieties developed by ICAR-IIMR for exports which is expected to promote value addition of millets, a cereal with high nutritive value.

MoU also envisages creation of market linkages with farmers as well as Farmer Producers Organizations. A joint coordination committee with representatives from APEDA and ICAR-IIMR would be set up to achieve the goals envisaged under the MoU.

The objective of the MoU is to build the export centric ecosystem with the requisite supply chain linkages, technological repository, clinical studies, awareness creation, policy changes and pipeline of entrepreneurs.

Both APEDA and ICAR-IIMR would work for developing knowledge on understanding of markets, consumer preferences, emerging segments, analyze export competitiveness, price volatility of markets and market intelligence on standards, regulations and trade policies.

Creation of a Millet Export Promotion Forum in collaboration with all the key stakeholders for identifying export clusters to source sizable quantities of produce and for linking stakeholders with FPO’s would be taken up jointly by the both the organizations of repute.

MoU gives thrust on work relating to sensitization, promotion and policy advocacy to the Government departments for bringing new policy changes and convergences in favour of millet exports.

Both the organizations would jointly develop an export strategy and accordingly conduct training programme for the existing millet processors and entrepreneurs on various export policies and schemes for increasing exports of millets.

Development and Implementation of novel frameworks such as Traceability, Artificial intelligence, etc. would be taken for promoting millets exports. Handholding activities for the Start-ups for export-compliance is also envisaged under MoU.

Profiling of Millets growers or farmers in all major millets growing regions of the country and strengthening of seed supply chain would be taken up by ICAR-IIMR.

Millets are cereal crops with high nutritive value and categorized as small-seeded grasses. The key varieties of millets include Sorghum, Pearl Millet, Ragi, Small Millet, Foxtail Millet, Barnyard Millet, Kodo Millet and others.

Recently, the United Nations General Assembly has passed the resolution to celebrate the International Year of Millets (IYM) in 2023, to promote the health benefits of millets and their suitability under the changing climatic conditions globally. As IYM is round the corner, it is expected that the demand of millets will grow exponentially in many countries.

ICAR-IIMR has been working along the entire millet value chain. Through several projects, ICAR-IIMR has piloted several interventions to build the value chain for these forgotten crops, and thus to revive the millets for Nutritional security in the country.

Considering the potential of increasing exports of Millets and Millet products and the focus given by Government for development of millet sector, APEDA has been formulating a long term strategy with ICAR-IIMR and other stakeholders like National Institute Nutrition, CFTRI and FPOs for promotion of Millets and Millet products.

To boost exports prospects of various agricultural produce, APEDA has signed a series of MoUs with Tamil Nadu Agricultural University, Coimbatore, University of Agricultural Sciences, Bangalore. National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and others.

FDI equity inflow grows by 168% in the first three months of F.Y. 2021-22 (US$ 17.57 billion) compared to the same corresponding period last year (US$ 6.56 billion)

Ministry of Commerce & Industry Press Release dated 28 Aug 2021

FDI equity inflow grows by 168% in the first three months of F.Y. 2021-22 (US$ 17.57 billion) compared to the same corresponding period last year (US$ 6.56 billion)


Total FDI inflow of US$ 22.53 billion during first three months of 2021-22, i.e. April, 2021 to June, 2021 is much Higher as compared to US$ 11.84 billion in first three months of 2020-21

Total FDI inflow 90% higher in first three months of 2021-22, i.e. April, 2021 to June, 2021   as compared to first three months of 2020-21

‘Automobile Industry’ emerges as the top sector during the first three months of F.Y. 2021-22 with 27% share of the total FDI Equity inflow followed by Computer Software & Hardware (17%) and Services Sector (11%) respectivelyPosted Date:- Aug 28, 2021

Measures taken by the Government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country.

The following trends in India’s Foreign Direct Investment are an endorsement of its status as a preferred investment destination amongst global investors:

India has attracted total FDI inflow of US$ 22.53 billion during first three months of 2021-22, i.e. April, 2021 to June, 2021 which is 90% higher as compared to first three months of 2020-21 (US$ 11.84 billion).

  • FDI equity inflow grew by 168% in the first three months of F.Y. 2021-22 (US$ 17.57 billion) compared to the year ago period (US$ 6.56 billion).
  • ‘Automobile Industry’ has emerged as the top sector during the first three months of F.Y. 2021-22 with 27% share of the total FDI Equity inflow followed by Computer Software & Hardware (17%) and Services Sector (11%) respectively.
  • Under the sector `Automobile Industry’, majority of FDI Equity inflow (88%) was reported in the state of Karnataka during the first three months of the current financial year (2021-22).
  • Karnataka is the top recipient state during the F.Y. 2021-22 (upto June, 2021) with 48% share of the total FDI Equity inflows followed by Maharashtra (23%) and Delhi (11%).

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India Trade Promotion Organisationoffers 50% Discount on Rentals to ‘STARTUPs’ in the 21st edition of IISE , Complete ‘MAN-TECH’ solutions at India International Security Expo 2021

Ministry of Commerce & Industry Press Release dated Aug 25, 2021

Highlighting ‘Atamnirbhar Bharat’ campaign of the Government, India Trade Promotion Organisation (ITPO) has extended its support to ‘STARTUPS’ in terms of providing 50 per cent rental discount toSTARTUPsin the21stedition of India International Security Expo (IISE) to be organized from 7th-9thOctober,2021 in Hall 5 (GF), IECC Complex at Pragati Maidan, New Delhi. These Startups should be notified by the DPIIT, the Ministry of Commerce and Industry, Government of India.

Facilitating transfer of technology, joint ventures, and system integration, IISE 2021 is being organized as per   preventive measures to contain spread of the pandemic with the support of the Ministry of Home Affairs, Government of India while the co-organizers are CISF and BPR&D.  Significantly, this is the only security expo in South-Asia region which enjoys the support of all States Police Forces, NDMA, CRPF, BSF, ITBP, SSB, Delhi Police, SPG, DFS, etc.

The Expo will cover almost all aspects of security and safety. The event also showcase the new initiatives of the industry of promote manufacturing of the security equipment and gadgets under the ‘Make in India’ campaign.  Featuring a wide range of the latest products, services and innovations of homeland security, cross-spectrum technology-based security capabilities, the event highlights fresh avenues for development of cyber security and skilled task force.

IISE 2021 focuses on new range of gadgets and systems in the field of surveillance, explosive detection and disposal, firefighting, access control, radio communications, training equipment and home and automotive security sectors.  Over 100 leading companies are displaying a wide range of products on Homeland Security, Fire Safety, Traffic Management, Industrial Safety, Disaster Management and Information Security.  These includes: Access Control Systems, Perimeter Protection Devices, CCTV Surveillance Equipment’s& System, Explosive detection & Disposal Equipment, Disaster Management & NBCW Protection Equipment, Equipment for Bank and Hospital Security, Equipment for Forensic Science Laboratories, Fire Alarm & Fire Fighting Equipment, Equipment for Counter Terrorism, Insurgency, Anti-Naxalism and Security Enforcement agencies, Crowd Control Gadgets/Anti-Riot Drill Equipment, Rescue and Relief Equipment, Vehicle and Personnel GPS System, Electronic Gates/Flap Barriers, Bomb Suits/Bomb Blanket, Night Vision Devices, Indoor/outdoor shooting ranges, Drone Technologies, Cyber Security, Health Security, Software & Solutions, Baggage Screening System, Integrated critical Infrastructure Protection and Jammer/Cell Phone Monitoring System, etc. 

The concurrent seminars, delegation visits from within the country and overseas and on-the-spot demonstrations on Women Safety, ‘Selfie- Points’ and ‘Dog Shows’ will be among the added attractions.

Inviting applications to set up International Trade Financing Services Platform at GIFT IFSC

Ministry of Finance Press Release dated 24th July 2021

The International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services, and financial institutions in the International Financial Services Centres (IFSCs) in India.

IFSCA vide circular dated 9th July 2021 issued the framework for setting up of International Trade Financing Services Platform (“ITFS”) at GIFT International Financial Services Centre (IFSC) for providing Trade Financing Services.

In this regard, IFSCA has invited application from eligible entities, which are desirous of setting up and operating the ITFS, to apply in the prescribed format along with supporting documents to the IFSCA by 15th of September 2021.

IFSCA upon satisfaction in the first instance will grant an in-principle approval to operate in IFSCA Regulatory Sandbox environment for such period as it may consider appropriate, before allowing regular operations.

The ITFS would be an electronic platform for facilitating the trade finance requirements of exporters and importers by providing access to multiple financiers. Once operational, it will play an instrumental role in arranging credit for exporters & importers from global institutions through Factoring, Forfaiting and other trade financing services at competitive cost. The platform is expected to be leveraged by exporters and importers across the world for availing trade finance services, thereby making GIFT IFSC a preferred location for international trade financing.

A copy of the circular dated 23rd August 2021 inviting applications to set up ITFS at GIFT IFSC is available on the website of the authority (www.ifsca.gov.in/circular).