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TMI BlogAdvancing industrial growth and empowering local economy main focus of DPIIT in the first 100 days of governmentX X X X Extracts X X X X X X X X Extracts X X X X ..... Advancing industrial growth and empowering local economy main focus of DPIIT in the first 100 days of government - News and Press Release Dated:- 5-10-2024 - News - Advancing industrial growth and empowering local economy main focus of DPIIT in the first 100 days of government - - - Dated:- 5-10-2024 - The Department for Promotion of Industry and Internal Trade (DPIIT) has announced several significant initiatives aligning with the government's focus on investment, industrial expansion, and the 'Make in India' initiative, further strengthening India s position as a global manufacturing and investment hub during the first 100 days of this Government. Below are some of the key highlights: World-Class Industrial Smart Cities Appro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ved The Union Cabinet approved the creation of 12 new world-class industrial smart cities as part of the National Industrial Corridor Development Programme (NICDP). With a budget of ₹28,602 crore, these cities will be built around next-generation technologies that seamlessly integrate across various infrastructure sectors. These projects add to the 8 previously approved cities, forming a network of 20 smart industrial hubs across the country. These cities spanning 8 states are designed on the plug-n-play and walk-to-work models, offering modern industrial facilities and lifestyle amenities. Once completed, these cities are expected to generate 1 million direct jobs, additional 3 million indirect jobs, and with an investment potential ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Rs 1.5lakh crore, will significantly uplift the socio-economic fabric of these regions. Boosting Local Artisans through PM Ekta Mall Initiative The PM Ekta Mall initiative aims to strengthen the Make in India mission while promoting the One District One Product (ODOP) scheme. This initiative is designed to foster national integration and boost the local economy by providing artisans and rural manufacturers with a platform to showcase and sell their unique products. With nine states having completed the foundation stone-laying ceremonies, the construction of PM Ekta Malls in other states is progressing rapidly. Additionally, Jammu Kashmir and Puducherry have received in-principle approval for the development of these malls. By enhancing t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he market presence of indigenous products, PM Ekta Malls are expected to generate employment opportunities, promote rural artisanship, and create a sustained demand for locally produced goods, further advancing India s self-reliance agenda. Public Procurement (Make in India) Order 2024 This policy mandates that all items with sufficient domestic production capacity must be sourced from local suppliers for all Engineering, Procurement, and Construction (EPC) or turnkey projects. The initiative is a significant boost for Indian manufacturers, providing them with increased market access and support to key industries while reducing import dependency. By promoting local value addition, this policy aligns with the Atmanirbhar Bharat initiative, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich seeks to empower Indian manufacturers, increase domestic employment, and reduce the country's reliance on foreign products. This policy is expected to have far-reaching benefits for local industries, boosting production capacity across sectors. Restructuring of Invest India for Global Expansion DPIIT has undertaken a major revamp of Invest India, the national investment promotion and facilitation agency. The restructuring focuses on creating a more agile, efficient team tasked with achieving ambitious targets in foreign direct investment (FDI) inflows. One of the major highlights of this effort is the international expansion of Invest India, with offices already inaugurated in Singapore and being expanded to Dubai, Zurich, and Saud ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i Arabia. These offices will offer a one-stop solution for investors by providing access to all necessary information and clearances directly at their doorstep. This international presence is expected to attract significant investments into India. Already, Invest India has facilitated $300 million in investments across sectors such as automotive, chemicals, and textiles, with companies like Hyundai Wia, Lubrizol, and Gestamp Automotive India making substantial commitments in Maharashtra and Gujarat. This marks a new chapter in India s investment landscape, reinforcing the country's position as a global investment destination. Unlocking 60,000 Acres of Salt Lands for National Development DPIIT issued new guidelines for the transfer of ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proximately 60,000 acres of unused and unproductive salt lands for productive and public purposes. These lands will be transferred on easy terms to central government ministries, state governments, and public sector enterprises for various national development projects. This includes land transfers for biodiversity conservation, eco-sensitive projects, renewable energy, and affordable housing, among others. This initiative not only unlocks valuable land resources but also prevents encroachment and litigation, ensuring that these lands are utilised for the nation s industrial and infrastructural development. Projects like port expansions, eco-tourism, and aquaculture are expected to benefit from these new guidelines. Rapid Growth of Digital ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commerce through ONDC The Open Network for Digital Commerce (ONDC) has witnessed tremendous growth, facilitating 12.6 million transactions in August 2024 a 300% increase over the previous year. With over 6 lakh sellers and service providers offering more than 3 crore products across 1,200 cities, ONDC is transforming the digital commerce landscape. This initiative democratises digital commerce by providing small retailers and kirana stores with access to digital tools, enabling them to compete in the growing e-commerce market. ONDC plays a pivotal role in bringing digital commerce to Tier-2 and Tier-3 cities, empowering local entrepreneurs, and creating a balanced growth story for both small retail outlets and large e-commerce platforms. Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... king PM GatiShakti to the District Level As part of the PM GatiShakti initiative, DPIIT has launched the District Master Plan (DMP) platform, which will extend the benefits of GatiShakti to the district level. These digital portals will enable seamless planning and development of social and economic infrastructure in every district. By mid-September 2024, 28 districts will have DMP portals, with the rest of the country to follow by March 2025. Additionally, a State-of-the-Art Experiential Centre for PM GatiShakti and the One District One Product (ODOP) scheme has been developed at the ITPO Complex in New Delhi. Using cutting-edge technologies like a 270-degree screen and holographic displays, the centre will raise awareness about these init ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iatives and showcase their success. Decriminalisation of Key Intellectual Property (IP) Acts Three key Intellectual Property Acts related to Patents, Trademarks, and Geographical Indications were decriminalised as part of the Jan Vishwas Bill. This move is expected to simplify compliance and enforcement processes under these Acts, fostering innovation and creativity in India s intellectual property landscape. Further, India introduced the world s first Certificate of Inventor-ship, which recognizes and rewards inventors whose research has resulted in patents. This non-monetary recognition is a significant motivator for the scientific community, encouraging further innovation and creativity in solving grassroots issues. Encouraging Quality C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsciousness through Reforms In a bid to make India a quality-conscious nation, DPIIT has introduced several reforms, including changes to the National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation process. This includes extending the accreditation cycle from two to four years and offering subsidies for women-led laboratories. Furthermore, Quality Control Orders (QCOs) have been issued for the leather and footwear sectors to ensure compliance with high manufacturing standards and promote exports. DPIIT has also launched initiatives like Gunvatta Gurukul, a finishing school aimed at empowering young professionals to contribute to India's development journey through quality initiatives. These efforts ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e creating a robust framework for quality manufacturing, reducing low-quality imports, and promoting the Make in India brand. Angel Tax Exemption to Boost Startups One of the significant barriers to startup investments, the Angel Tax, was removed in the Union Budget 2024-25. This tax, which applied to investments exceeding fair market value, particularly burdened startups. Its removal is expected to foster early-stage investments, especially from foreign investors, thereby catalysing growth in emerging sectors like AI, clean energy, and deep tech. - - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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