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What is the news?
The Department for Promotion of Industry & Internal Trade, Ministry of Commerce and Industry has taken several steps in the year 2021.
Several of these steps are:
Production Linked Incentive Scheme: PLI schemes for 14 key sectors of manufacturing has been launched. These 14 sectors are: (i) Automobiles and Auto Components, (ii) Pharmaceuticals Drugs (iii) Specialty Steel (iv) Telecom & Networking Products (v) Electronic/Technology Products (vi) White Goods (ACs and LED Lights) (vii) Food Products (viii) Textile Products: MMF segment and technical textiles (ix) High efficiency solar PV modules (x) Advanced Chemistry Cell (ACC) Battery (xi) Medical devices (xii) Large scale electronics manufacturing including mobile phones (xiii) Critical Key Starting materials /Drug intermediaries and API and (xiv) Drones and Drone Components.
PM Gati Shakti National Master Plan (NMP)
Prarambh: Startup India International Summit
Startup India Seed Fund Scheme (SISFS)
India Industrial Land Bank (IILB)
Foreign Direct Investment: India registered its highest ever annual FDI inflow of US$ 81.97 billion (provisional figures) in the financial year 2020-21.
Insurance Sector: Government has raised the permissible FDI limit from 49% to 74% in Insurance Companies under the automatic route and allow foreign ownership and control with safeguards.
Petroleum & Natural Gas sector: Government has raised the foreign investment up to 100% under the automatic route. It has happened in cases where the Government has accorded an ‘in-principle’ approval for strategic disinvestment of a Public Sector Undertaking (PSU) engaged in the Petroleum and Natural Gas Sector.
Telecom sector: Government has raised the foreign investment up to 100% under automatic route in Telecom services sector.
Copyright (Amendment) Rules,2021
Patent (Amendment) Rules, 2021
One District One Product (ODOP)
13th BRICS Summit: It was held under India’s Chairship in 2021. It was the third time that India hosted the BRICS Summit, after 2012 and 2016. The theme for India’s Chairship was ‘BRICS @ 15: Intra-BRICS Cooperation for Continuity, Consolidation and Consensus’.
Source:This post is based on the article ‘Year End Review – 2021 for Department for Promotion of Industry & Internal Trade, Ministry of Commerce and Industry’ published in PIB on 5th Jan 2022.
