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Tag: DPIIT

  • India’s Toy Exports Expand To More Than 100 Countries | Economy News

    New Delhi: The Indian toy industry has expanded its global presence to more than 100 countries including the US, the UK, Germany, the Netherlands, Denmark and even China and the next step for the toy manufacturers is to reach international consumers through the effective use of online mediums, a senior official of the Department for Promotion of Industry and Internal Trade (DPIIT) said here on Monday.

    In line with the objective of providing an impetus to the growing Indian toy sector, DPIIT organised a “Workshop with Flipkart and Indian Toy Industry” on Wednesday in New Delhi, which played a pivotal role in laying the roadmap for enabling further growth of the toy sector, scaling domestic consumption and upskilling/reskilling workforce.

    Addressing a joint workshop of Indian toy manufacturers and e-retail giant Flipkart, Joint Secretary, DPIIT, Sanjiv said: “The success of the Indian toy industry reflects in the enhanced exports, increasing robustness of the manufacturing ecosystem and reduced import dependence.”

    The deliberations laid special focus on how the emerging opportunities from the e-commerce marketplace can be leveraged to bolster the growth of the Indian Toy Industry.

    Secretary, (DPIIT), Rajesh Kumar Singh while addressing the participants said: “As part of its strong commitment to create a better ecosystem for the toy industry, the government has identified the sector as one of the champion sectors, with a long-term vision to create a global market for ‘Made in India’ toys.

    A cohesive approach is being followed by breaking the silos and working with industry in all aspects for enhancing the robustness of the sector.” The workshop organised in collaboration with Flipkart and the Indian Toy Industry helped the domestic toy manufacturers to understand the nuances of online selling, thereby enabling a step further towards building a “Toyconomy”.

    According to industry estimates, Indian exports of Toys, Games, and sports articles between 2014-15 to 2022-23 increased by 239 per cent whereas the imports fell by 52 per cent.

    Further, the report presented the current market size of the industry is USD 1.7 billion, and expected to reach USD 4 Billion by 2032 with a 10.5 per cent annual growth rate.

  • Tech switch with China cos: DPIIT opposes aid

    The Department for Promotion of Industry and Internal Trade (DPIIT) has sought a maintain on the relaxations not too long ago granted by the Finance Ministry, which had successfully allowed home corporations having expertise switch preparations with Chinese corporations to bid for public tasks.
    Citing representations from business our bodies which have expressed concern over the Department of Expenditure’s (DoE’s) resolution final month, the DPIIT has resisted the “blanket exemption” to corporations having switch of expertise (ToT) pacts with Chinese entities from necessary registration with it and sought a evaluation of the choice.
    In a communication to the DoE final week, the DPIIT argued that any such transfer will “provide an indirect route to the bidders having beneficial ownership in land border sharing countries to participate in public procurement in violation of the guidelines stipulated in the DoE order dated July 23, 2020”.

    Following the Galwan conflict, the DoE had final July amended the overall monetary guidelines (GFRs), proscribing bidders from nations with which India shares land border from collaborating in authorities procurement tenders with out approval from competent authorities. However, the Centre made an exception for bidders from nations to which India had prolonged a line of credit score or was engaged in growth tasks. This successfully restricted the curbs to solely China and Pakistan. FE

  • Govt to inform PLI scheme for auto parts, metal, textile: Official

    The authorities is notifying the production-linked incentive (PLI) scheme, that was introduced to spice up home manufacturing, for sectors like auto parts, metal, and textiles.
    Additional Secretary within the Department for Promotion of Industry and Internal Trade (DPIIT) Sumita Dawra stated that the federal government launched the PLI scheme to encourage an incentive-led mannequin for manufacturing, attracting superior applied sciences, bringing in economies of scale and assembly high quality requirements.
    “We are going as per strict timelines and we will now look to notify the scheme under auto components, steel, and textiles,” she stated at a PHDCCI webinar on ‘Implications of PLI scheme on India’s manufacturing and commerce competitiveness’ on Thursday.

    She added that within the present pandemic time, multinational corporations have realised the problems of concentrating their provide chains in just a few geographies.
    “So, India is pitching itself to be part of this global supply chain by attracting investments in these PLI sectors,” Dawra stated.
    The authorities final 12 months authorized the PLI scheme for 13 sectors with a complete outlay of almost Rs 2 lakh crore over a five-year interval.

    Speaking on the webinar, PHDCCI President Sanjay Aggarwal stated that the scheme would assist entice each home and international investments.
    Kuntal Sharma, Economic Adviser, Ministry of Food Processing Industries, stated that the sector holds big scope for development and enlargement and the scheme will assist in attaining that. “PLI will help increase value addition in the sector as currently it is less,” he added.

  • High stage meet to debate e-commerce coverage right now

    Image Source : PTI/FILE High stage meet to debate e-commerce coverage right now
    The Department for Promotion of Industry and Internal Trade (DPIIT) has convened essential conferences to debate Draft e-Commerce Policy and FDI in e-Commerce Sector. The conferences will kick off on Saturday, with an inter-ministerial assembly to debate the draft e-Commerce coverage.
    To be chaired by Secretary DPIIT, the invitees embrace Secretaries from Ministry of Electronics, Department of Commerce, Department of Consumer Affairs, Ministry of Micro, Small & Medium Enterprises, Department of Revenue, Department of Economic Affairs, Ministry of External Affairs, Department of Posts; apart from CEO, NITI Aayog, and Chairmen of Directorate General of Foreign Trade, Central Board of Direct Taxes (CBDT), Central Board of Indirect Taxes and Customs (CBIC), Competition Commission of India (CCI) and likewise Deputy Governor, Reserve Bank of India.

    Then on March 17, an vital stakeholder assembly is scheduled relating to FDI in e-Commerce sector. In this assembly, aside from its personal officers, DPIIT has invited CAIT, RAI, FICCI, CII, Assocham, PHD Chamber of Commerce, FISME (Federation of Indian Micro and Small & Medium Enterprises).
    Notably, the Assocham- e-Commerce committee is co-chaired by Amazon, Facebook and Udaan and the FICCI committee is co-chaired by RIL, Amazon and Snapdeal.
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