Department of Industrial Policy and Promotion Current Affairs - 2019

Category Wise PDF Compilations available at This Link

Renaming of Department of Industrial Policy and Promotion (DIPP)

The Department of Industrial Policy and Promotion (DIPP) has been renamed as the Department for Promotion of Industry and Internal Trade.

Mandate for the Newly Named Department

The newly named department will work under the Union Ministry of Commerce. The order issued by the President states that the department would deal with matters related to start-ups, facilitating ease of doing business among others.

The subject matter of internal trade which was under the ambit of the Ministry of Consumer Affairs has been transferred to the newly named department.

With this new mandate, both internal and external trade has been brought under a single Ministry (Ministry of commerce and industry). This will ensure better coordination and help in promoting the growth of both segments of the trade.

Why the new mandate?

For a long time Confederation of All India Traders Association (CAIT) was demanding for a separate Ministry of Internal Trade. CAIT sees the creation of a separate department by merging Internal and external trade is a step forward in the creation of a separate Ministry.

Month: Categories: NationalUPSC

Tags:

Norms for the manufacturing of defence items relaxed

The government has relaxed norms for the manufacturing of the defence items. As per new norms, manufacturing of items of defence aerospace and warships will now be covered by Industries (Development and Regulation) Act and will not require any licence from the Commerce and Industry Ministry.

The Department of Industrial Policy and Promotion (DIPP), under the Ministry of Commerce and Industry, has issued a clarification on the list of defence products requiring a compulsory licence under Industries (Development & Regulation) Act, 1951 (IDRA), and Arms Act, 1959.

The new norms together with enhancing the ease of doing business will aid in attracting investments and fasten the process of indigenisation of defence production.

Month: Categories: Defence

Tags: