Simplifying your business ideas, structures, functionalities, relations & operations
Ministry of Road Transport & Highways
Notification of Mass Emission Standards for E12 AND E15 fuels
Posted Date:- Oct 13, 2021
Ministry of Road Transport and Highways vide GSR 728 (E) dated 11th October 2021 has notified mass emission standards for E 12 (12% Ethanol with Gasoline) and E15 (15% Ethanol 12 with gasoline) fuels. This will enable the Automotive Industry to manufacture E 12 and E 15 compliant motor vehicles.
*****
Click here to see Notification
MJPSRelease Id :-1763584
Ministry of Commerce & Industry Press Release dated 12th Oct 2021
Leading India’s intervention, Shri Piyush Goyal calls for waiver of IPR and dismantling new trade barriersin the global fight against the pandemic
“We need to actively resolve new trade barriers like vaccine differentiations or COVID passports, which impose mobility restrictions and impede the movement of personnel needed for delivering critical services:” Shri Goyal’ssays at G20 Trade Ministers
Shri Goyal asks countries engaged in distant water fishing to stop subsidizing their fishing in high seas and gradually reduce their fishing capacities, particularly, for overfished stocks
Shri Piyush Goyal urges Developed Countries to fulfil their commitments regarding Transfer OfTechnology and Climate Finance
“India among few countries on track to exceed SDG commitments as per the Paris Agreement,” says Shri Goyal
Shri Piyush Goyal meets Ministers of G 20 to advance India’s trade position and negotiated bilateral and multilateral agreements
The Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Shri Piyush Goyal has called for waiver of Intellectual Property Rights (IPR) and dismantling new trade barriers in the global fight against the COVID19 pandemic.
“Our response to the pandemic needs to ensure equitable access to vaccines and other COVID-19 related health products by ensuring quick resolution of the supply side constraints. One of the ways to demonstrate this is by accepting the TRIPS waiver proposal,” Shri Goyal said, in his address to the G20 Trade and Investment Ministerial Meeting in Naples, Italy today.
Shri Goyal called for actively resolving new trade barriers like vaccine differentiations or COVID passports, which impose mobility restrictions and impede the movement of personnel needed for delivering critical services.
“COVID-19 crisis is a powerful reminder of our inter-connectedness, and the need for a coordinated global strategy to overcome such an unprecedented public health situation,” he said.
Shri Goyal underlined the need for an early universal vaccination against Covid19.
“Apart from focusing on facilitating free flow of goods, I invite G20 countries to join in efforts to make health services accessible and more affordable by the citizens of the world by enabling free flow of health services,” he said, adding,“as a quick response to the pandemic, I am happy to inform that our telemedicine initiative “e Sanjeevani”, has been serving millions of Indians. I am happy to offer it to the entire world.”
Calling for an equitable and balanced outcome to the trade negotiations in the Fisheries sector, Shri Goyal advocated that countries engaged in distant water fishing should stop subsidizing their fishing in high seas and gradually reduce their fishing capacities, particularly, for overfished stocks.
“To achieve balanced outcomes in Fisheries Subsidies, policy space for future is a must, not only to protect the livelihoods of poor and marginal fishermen and address, the food security concerns but also to diversify, modernise and develop the fisheries sector, he said. Separately, Shri Goyal also discussed the Agreement on joint multilateral positions in Fisheries etc with his Australian counterpart during a one-to-one meeting yesterday.
In his G20 Ministerial Address, meanwhile, Shri Goyal also said India is committed towards the United Nations 2030 Agenda on Sustainable Development and the Sustainable Development Goals (SDGs).
“India is among the few countries which is on track to exceed its commitments as per the Paris Agreement. We urge the Members to fulfil their commitments regarding Transfer Of Technology and Climate Finance, which are far from being fulfilled by the Developed Countries,” he said.
Shri Goyal said sustainability cannot be seen in isolation and has to be linked to making available grant based, long tenure, low cost and concessional & affordable technologies.
“India has consistently maintained that environmental/sustainability measures need careful assessment to ensure that they do not become new trade barriers and the right forum for them is the dedicated Multilateral Environmental Agreements,” he said.
On Tuesday, it turned out to be a power packed day for Commerce Minister Piyush Goyal on the sidelines of the G20 Trade Ministers Meeting at Sorrento, Italy. He met with nearly 15 Ministers to advance India’s trade position and negotiated bilateral and multilateral agreements. Among the countries and dignitaries met included DG WTO, US, UK, EU, Brazil, China, Australia, South Africa, Indonesia, Canada, South Korea and Mexico.
Shri Goyal unequivocally put forth the position that India is working towards the success of the upcoming WTO 12thMinisterial Conference (WTO MC12) next month but the outcome must be just and equitable. “Historical wrongs against developing countries must be corrected rather than being carried over,” he said.
In his meetings with the Canadian Minister, Shri Goyal discussed steps to take forward the FTA negotiations with the newly elected Government while he called upon his South Korean and EU counterparts to accelerate review of the FTA. With the Mexican Minister, Shri Goyal discussed cooperation in healthcare. Shri Goyal also met with the DG, WTO to discuss the MC12 agenda.
The Cabinet Committee on Economic Affairs (CCEA) – empowered Air India Specific Alternative Mechanism (AISAM) comprising of Union Minister for Home Affairs and Cooperation Shri Amit Shah; Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman; Union Minister for Commerce and Industry Shri Piyush Goyal and Union Civil Aviation Minister Shri Jyotiraditya Scindia approved the highest price bid of M/s Talace Pvt Ltd, a wholly owned subsidiary of M/s Tata Sons Pvt. Ltd for sale of 100% equity shareholding of Government of India in Air India along with equity shareholding of Air India in AIXL and AISATS. The winning bid is for Rs 18,000 crore as Enterprise Value (EV) consideration for AI (100% shares of AI along with AI’s shareholding in AIXL and AISATS). The transaction does not include non-core assets including land and building, valued at Rs 14,718 crore, which are to be transferred to GoI’s Air India Asset Holding Limited (AIAHL).
The process for disinvestment of Air India and its subsidiaries commenced in June 2017 with the ‘in-principle’ approval of CCEA. The first round did not elicit any Expression of Interest. The process re-commenced on 27 January 2020 with issue of Preliminary Information Memorandum (PIM) and request for Expressions of Interest (EOI). The original construct as per the January 2020 PIM envisaged (i) pre-determined, fixed amount of debt to be retained in AI (with balance to be transferred to Air India Asset Holding Limited (AIAHL) and (ii) the sum of certain identified current and non-current liabilities (other than debt) to be retained in AI and AIXL would be equal to the sum of certain identified current and non-current assets of AI and AIXL (excess liabilities to be transferred to AIAHL).
The timelines had to be extended on account of the situation arising from the COVID-19 pandemic. In view of the excessive debt and other liabilities of Air India arising out of huge accumulated losses, the bidding construct was revised in October 2020 to Enterprise Value (EV) to allow prospective bidders an opportunity to resize the balance sheet and increase chances of receiving bids and competition. The EV construct allowed the bidders to bid on the total consideration for equity and debt instead of a pre-determined, fixed debt with minimum cash consideration of 15% for equity. As per both the original and revised construct, all non-core assets (land, buildings, etc.) are to be transferred to AIAHL and are therefore not a part of the transaction. It has been ensured that the interest of the employees and retired employees would be taken care of.
The transaction saw keen competition with seven EOIs being received in December, 2020. Five of the bidders, however, had to be disqualified as they could not meet the requirements set out in the PIM/EOI, even after allowing them an opportunity for clarification. The Request for Proposal (RFP) and draft Share Purchase Agreement (SPA) was issued on 30 March, 2021. Air India provided comprehensive information through the Virtual Data Room to the qualified bidders who were also provided access to inspect the assets and facilities being offered as a part of the transaction. A large number of queries from bidders were responded to. On request of bidders, the bid due date was extended to 15 September, 2021 so that they could complete their due diligence before submission of bid. The final SPA containing detailed terms and conditions and the respective responsibilities to meet the conditions precedent for closing the transaction including release of Government guarantees prior to closing was agreed upon prior to bid submission. Two sealed bids were received on the due date along with non-financial bid documents and bid security from the two qualified bidders.
In line with the approved procedure for strategic disinvestment, a reserve price was fixed after the receipt of sealed financial bids for the transaction, based on valuation using methodologies as per the established process. After the independent fixation of Reserve Price, the already received sealed financial bids were opened in the presence of the bidders, who were as follows:
Both the bids were above the reserve price of Rs 12,906 crore.
The entire disinvestment process has been carried out in a transparent manner, with due regard to confidentiality of the bidders, through multi-layered decision making involving Inter-Ministerial Group (IMG), Core Group of Secretaries on Disinvestment (CGD) and the empowered Air India Specific Alternative Mechanism (AISAM) at the apex Ministerial level. Transaction Adviser, Legal Adviser, Asset Valuer, professionals in their respective fields, have supported the entire process.
The next step will be to issue the Letter of Intent (LoI) and then sign the Share Purchase Agreement following which, the conditions precedent would need to be satisfied by the successful bidder, the company and Government. It is expected that the transaction will be completed by December 2021.
Ministry of Finance Press Release dated 08 Oct 2021
“At 87%, India has the highest FinTech adoption rate in the world against the global average of 64%”: Shri Piyush Goyal
India poised to become one of the largest digital markets in the world, says Commerce Minister
UPI banking interface recorded highest ever, over 3.6 Bn transactions, last month
More than 2 trillion transactions processed using Aadhar last year
Minister says India’s fintech industry came to rescue of people during the lockdown and 2nd wave of Covid, promoting contactless banking
Ministry of Commerce & Industry Press Release dated Sep 30, 2021
The Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Shri Piyush Goyal has said India is poised to become one of the largest digital markets in the world. Addressing the 2nd Global Fintech Fest-2021 through video conferencing today, he said, “At 87%, India has the highest FinTech adoption rate in the world against the global average of 64%.”
“As of May 2021, India’s United Payments Interface (UPI) has seen participation of 224 banks & recorded 2.6 billion transactions worth over $68 Bn and the highest ever, more than 3.6 Bn transactions, in Aug’21,” said Shri Goyal. “Over 2 trillion transactions were processed using the AePS (Aadhar-enabled payment system) last year,” he added.
The Minister said India’s FinTech industry came to the rescue of people at the time of pandemic, by enabling them to carry out critical activities from the safety of their homes, particularly during the lockdown & the 2nd wave of Covid.
“As Prime Minister Modi says, ‘every crisis can be converted into an opportunity’, now citizens do not have to go to the banks, the banks have come to their homes and on their mobile phones,” he said.
Shri Piyush Goyal said, under the visionary leadership of the Prime Minister Shri Narendra Modi India underwent a digital transformation in Mission Mode since he announced the Jan Dhan Yojana in his first Independence Day speech on assuming office, on 15th August 2014. More than 2 crore accounts were opened under the scheme, which has been considered a world record, he said.
“JAM trinity, besides DBT, has brought in transparency, integrity and timely delivery of financial benefits and services to India’s vast population. “JAM trinity has enabled India to leverage its technical capabilities for developing Fintech sector.
The Minister said, under the National Broadband Mission soon every village in India will have high speed internet and this power can be leveraged to make India a Fintech Innovation Hub.
“I believe India is poised to become one of the largest digital markets with rapid expansion of mobile & internet networks. As India aims to become Aatmanirbhar, we want our industry & entrepreneurs to use local talent to produce globally marketable solutions, he said.
Shri Goyal said, FinTech today has the potential to bring investments for mobile apps, e-commerce stores & several other digital infrastructures.
“Investment inflow in the Fintech sector which has gone up to $10Bn since it started in 2016 has the huge potential to “Up the Game”, it will simultaneously enhance customer experience. Your strength will be augmented by the world’s 3rd largest Startup ecosystem which is hungry for growth.”
An interesting development is the emergence of embedded finance
The non-financial services sectors are also proactive in adopting FinTech solutions today.
Shri Goyal said that with the expansion of their value chains, we need to consume more and more fintech services will grow proportionally.
“Our MSMEs have also rapidly adopted FinTech solutions whether for credit, payments, accounting & tax filing. Government has recently launched the Open Credit Enablement Network (OCEN) & Account Aggregator (AA) framework. These enable formal credit flow to the most vulnerable segments, especially particularly small businesses, brings Ease for financial institutions to reach large segments, by lowering distribution costs and now institutions can give smaller loans, with short repayment cycles.
The Commerce Minister said, India is today one of the fastest growing Fintech markets with more than 2,100 FinTechs.
“A lot of Indian Fintech markets are unicorns and India’s market is currently valued at $31 Bn, and expected to grow to $84 Bn by 2025,” he said.
***
More than 22000 compliances reduced in Government.
103 offences decriminalized and 327 redundant provisions/laws removed by the Centre
Exercise being carried out by Centre to simplify, decriminalize & remove redundant laws – Piyush Goyal
Reduction of compliance burden is the best way to strengthen & boost confidence of business owners- Shri Piyush Goyal
Our focus has been to simplify & streamline procedures to run or start a business – Shri Goyal
A big exercise is being carried out by Central Ministries & States/UTs to reduce compliance burden and the aim of this exercise is to simplify, decriminalize & remove redundant laws, said Shri Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, Textiles, while speaking at the workshop on National Workshop on Reducing Compliance Burden organised by DPIIT here today.
Shri Goyal said that India, under PM Modi, has come a long way from red-tapism to laying the red carpet for businesses.
The mindset has evolved from “Not able to understand complexities” to “It’s so simple to start a business”.
He said that numerous regulatory compliances only confused the new prospects & built hesitation in investors but today we are creating a most conducive environment for entrepreneurs.
The Minister said that the soft launch of the National Single Window System is an outstanding example of Government’s commitment to simply and rationalise things.
The NSWS portal hosts approvals across 18 Central Departments & 9 States and another 14 Central depts & 5 states will be added by Dec’21.
Shri Goyal said that through a participative & consultative approach with all stakeholders we are identifying & eliminating hurdles in a timebound manner.
Speaking on the occasion Secretary DPIIT said that more than 22,000 compliances have been reduced by Union Ministries, States & UTs so far under the initiative and about 13,000 compliances simplified while more than 1,200 processes have been digitized. It may be noted that during last fee years 103 offences have been decriminalized and 327 redundant provisions/laws removed.
Shri Goyal said that the National Workshop on Reducing Compliance Burden will showcase the progress, achievements and notable initiatives under the exercise of Reducing Compliance Burden to ensure Ease of Living and Ease of Doing Business.
During the workshop Ministries and States showcased iconic reforms, shared Best Practices and highlighted impact created in continuous endeavour to reduce compliance burden and improve quality of living for citizens.
On the occasion Shri Piyush Goyal also released the Stakeholders Booklet on Reduction of Compliances.
The Workshop is going to promote peer learning among Ministries and States/UTs to facilitate swift adoption of Best Practices for improved Service Delivery to citizens and businesses.
With the intent to ensure “Minimum Government, Maximum Governance” the Government of India embarked on an ambitious journey to reduce burdensome compliances.
Department for Promotion of Industry and Internal Trade (DPIIT) pioneered this initiative and closely engaged with the States/UTs and Ministries for more than two years to improve the regulatory and governance model across the country.
Under the aegis of ‘Azadi Ka Amrit Mahotsav’, an initiative of the Government of India to celebrate and commemorate 75 years of progressive India and its achievements, DPIIT held this National Workshop on Reducing Compliance Burden.
The workshop was chaired by Shri Piyush Goyal, and also addressed by Ministers of State for Commerce and Industry Shri Som Parkash and Smt. Anupriya Patel.
Some of the iconic reforms implemented by the Centre to ease compliance burden on citizens and businesses are-
1) Removal of distinction between Domestic and International OSP (other service provider) which will provide thrust to voice-based BPO and ITeS organizations in India,
2) liberalized access to geospatial data,
3) Introduction of ‘Mera Ration’ mobile app,
4) Introduction of single step online Aadhaar validation process for 18 services associated with Driving License and Registration Certificate.
5) 46 penal provisions of the Companies Act, 2013 and 12 offences under the Limited Liability Partnership (LLP) Act, 2008 decriminalized.
6) Through business process re-engineering, States/UTs have reduced time for granting approvals/licenses, eliminated physical touch-points and brought transparency in inspections.
7) Single window clearances for new investors have reduced the time to start operations across businesses.
It was noted that many State Governments have also maintained the momentum of continued reforms by implementing licensing reforms, computerized central random inspection system, labour reforms, initiatives to support Medium, Small and Micro Enterprises (MSMEs) and promote industrial development in the true spirit of cooperative federalism.
In July 2020, Cabinet Secretary had written to all Ministries to set up a dedicated team to examine the Acts and Regulations under their purview and reduce the compliance burden for citizens and business activities. DPIIT has been directed to act as a Nodal Department to coordinate this exercise of reducing compliance burden on citizens and business activities.
The objective for this comprehensive exercise is to improve ease of living and ease of doing business by simplifying, rationalizing, digitizing and decriminalizing government to business and citizen interfaces across all Ministries and States/Union Territories. Following are the focus areas of this exercise:-
1) Eliminate compliance burden across all procedures, rules, notifications, circulars, office memorandums, etc. which merely add to time and cost without achieving any tangible improvement in governance.
2) Repeal/amend/subsume redundant laws.
3) Decriminalize laws pertaining to technical and minor non-compliance issues to eliminate constant fear of being prosecuted for trivial defaults, while retaining strict criminal enforcement for serious fraudulent offences that jeopardize and prejudice public interest.
In July-August 2020, DPIIT shared the template of Action Plan to reduce compliance burden with all Ministries and States/UTs. Each Department and State/UT appointed a nodal officer for coordinating the exercise for reduction of compliance burden.
So far, through a simple, transparent, and time-bound exercise various government agencies have reduced more than 22,000 compliances across Ministries and States/UTs.
As part of the exercise on reducing compliance burden, Ministries and States/ UTs implemented various initiatives that impact specific segments of citizens and businesses. Some of the iconic Initiatives of different departments are –
1) Department of Telecommunications:
– Distinction between Domestic and International OSP (other service provider) removed, allowing Indian Telecom Service Providers serving foreign counterparts to register as an OSP. Allowed sharing of EPABX and PSTN lines by domestic and international centers. This provides massive growth thrust to BPO, BPM and ITeS organizations providing voice-based services in India
2) Department of Science and Technology:
– Private, public entities and research institutes now allowed to collect, process, store, publish and share geospatial data and services including maps enabling an Indian firm offer world class geo spatial service such as Google maps. Liberalized access to geospatial data helps stakeholders plan better for infrastructure projects, protection from natural calamities and enables environment protection. Reduced reliance on foreign resources and technology for geo spatial mapping
3) Department of Food and Public Distribution:
– Migrant beneficiaries empowered to get their entitled quota of food grains from any electronic point of sale (e-PoS) enabled fair price shops across the country. ‘Mera Ration’ mobile app introduced to help users identify nearest fair price shop, check entitlement details and recent transactions. Ration cards made portable minimizing compliance pain of migrant beneficiaries in availing their food grain quota. Facility covers more than 75 Crore beneficiaries under National Food Security Act (NFSA) covering almost 94.3% of NFSA population
4) Ministry of Road Transport and Highways:
– Single step online Aadhaar validation process introduced for 18 services associated with Driving License (DL), Registration Certificate (RC), Transfer of Ownership, International Driving Permit, Hire-Purchase, etc., eliminating the need for citizens to visit the Road Transport Offices (RTO) leading to hassle free services at the doorstep of citizens
– Registration Certificate now issued at dealer location itself. Vehicle registration can be done anywhere in the state (Maharashtra, Delhi, Uttar Pradesh, Haryana, Chhattisgarh, West Bengal) vis-a-vis earlier process wherein it could be done only at respective RTO
5) Ministry of Education-
– Digital Infrastructure for Knowledge Sharing (DIKSHA) user interface developed to enable learners and teachers across the country to access curricula of NCERT, CBSE and SCERTs online. 1.85 lakh pieces of e-content on-boarded and high traffic on portal (~2,400 crore hits since lockdown) showcases its increased usage. Training of teachers has been enabled online on DIKSHA with about 25 lakh teachers benefitting from it.
6) Ministry of Micro, Small and Medium Enterprises:
– Samadhaan portal launched empowering MSMEs across the country to register and track grievances related to delayed payment and settlement of disputes. CHAMPIONS portal launched by the Prime Minister for speedy redressal of grievances of MSMEs. Over 37,000 grievances redressed (by Aug’21) with a reply rate of more than 99%.
– Sampark portal launched to help connect jobseekers (passed out trainees/ students of MSME Technology Centers) to recruiters. 4.73+ lakh jobseekers and more than 6,200 recruiters are registered on the portal till date
8) Department of Consumer Affairs:
– BIS Care app launched empowering consumers to check authenticity of ISI marked and hallmarked products. Citizens can also lodge complaints against fraudulent products using the App.
***
DJNRelease Id :-1758949
Government e Marketplace bags prestigious CIPS Award
GeM wins global Digital Technology Application award beating stiff foreign multinationalsPosted Date:- Sep 23, 2021
Government e Marketplace (GeM) was announced as the winner in the “Best Use of Digital Technology” category at the CIPS Excellence in Procurement Awards 2021 (CIPS Awards). GeM emerged the winner in this category after competing with some of the biggest and best names in procurement across the public and private sector globally, including GEP, Jaguar Land Rover, Royal Dutch Shell, Vendigital and Shell. GeM was shortlisted as a finalist in two additional categories as well, i.e., ‘Public Procurement Project of the Year’ and ‘Best Initiative to Build a Diverse Supply Base’ where it was in the august company of some path-breaking organizations with great initiatives. The award was received on behalf of GeM by Shri Rohit Vadhwana, First Secretary (Economic), High Commission of India, in the UK at a ceremony held London yesterday.
The CIPS Awards are one of the leading recognitions around procurement globally, which is conducted under the aegis of The Chartered Institute of Procurement & Supply (CIPS), London. CIPS is a global not-for-profit organisation and professional body dedicated to promotinggood practices in procurement and supply management, with a community across 150 countries.
Recognition of GeM on a global platform of this stature is a tremendous shot in the arm for the GeM team and a testament to the vision of the PM Shri NarendraModi. GeM has brought its technology-driven innovations and strategic business processes in pursuit of three fundamental goals: driving transparency, efficiency and inclusiveness in public procurement. The design and development of the GeM platform- its digital features and functionalities, key business processes as well as the ancillary offline activities like outreach and training of stakeholders-is guided by these three goals. The use of forward-looking technologies has helped GeM to broadly achieve these goals and more, over the past five years. GeM offers a cashless, contactless, and paperless experience for sellers and buyers, and serves as an end-to-end solution for procurement of common use goods and services by Government buyers. GeM has completely replaced a previously fragmented public procurement ecosystem by a unified and easy-to-use e-marketplace helping to leverage competitiveness, accessibility, and economies of scale of a diverse, open and transparent procurement system. GeM is an example of how digital platforms created with a strategic and clear intent to transform legacy processes can effect lasting change.
Government e Marketplace is a 100% Government owned Section 8 Company setup under the aegis of Department of Commerce, Ministry of Commerce and Industry for procurement of goods and services by Central and State Government organizations.
Ministry of Commerce & Industry Press Release dated 23 Sept 2021
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.
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: 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
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
Business So Simple 