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Tag: Ministry of Commerce & Industry

Startup India Venture Capital Summit on 7th Dec in Goa to Mobilize Innovation

[News Delhi] Startup India Summit in Goa to Mobilize Global Capital for Innovation in India
The Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry and the Government of Goa, is hosting the annual Startup India Venture Capital Summit in Goa on December 07, 2018.
The theme of the Summit is ‘Mobilizing Global Capital for Innovation in India.’
The event will showcase the Indian startup opportunity for funds from around the world. The summitaims to attract more global capital into the country.
India has the world’s third largest startup base with more than 14,000 recognized Startups. More than 8,200 startups were recognized by DIPP in 2018 alone, leading to the creation of more than 89,000 new jobs this year, taking the total job creation contribution of recognized Startups to 1,41,775.
Government of Goa is focused on building a vibrant startup ecosystem in the state. It aims to make the state, one of the most preferred start-up destinations in India, and ensure that Goa features in the top 25 start-up destinations in Asia by 2025
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Month long Startup India – Maharashtra Yatra from 3rd Oct

[New Delhi] Month long Startup India – Maharashtra Yatra from 3rd Oct
Month long Startup India – Maharashtra Yatra will be launched on the 3rd of October, 2018 by Union Minister for Commerce & Industry and Civil Aviation, Suresh Prabhu, at Raj Bhawan, Mumbai. Maharashtra Governor, C. Vidyasagar Rao, Chief Minister of the State, Devendra Fadnavis, and Minister for Labour and Skill Development, Sambhaji Patil Nilangekar will grace the occasion.
Startup India Yatra van, equipped with facilities for individuals and Startups to pitch their ideas, is scheduled to travel to 16 Districts, with 23 Van Stops and 14 Boot Camps, and will conclude at a Grand Finale in Nagpur on 3rd of November, 2018.

Modi’s Prabhu to Take up Questions From Startups Tommorrow

[New Delhi]Modi’s Prabhu to Take up Questions From Startups Tommorrow
Union Minister of Commerce and Industry, Suresh Prabhu will address the Start up community by answering questions on Startup India.
The objective of the live session is to address concerns and elaborate on the support which they can seek from Startup India.
The live session will be held on Wednesday, 16th May at 4.30 pm on Suresh Prabhu’s social handles – Twitter and Facebook, along with Startup India’s social handles – Twitter, Facebook and YouTube.
As per Ministry ,Participants need to use the hash tag #AskPrabhu and put their questions across before the live session. Select questions will be answered by Suresh Prabhu.

Govt Recognises Only 8,625 Startups

[New Delhi] Govt Recognises Only 8,625 Startups
As per the data available with Startup India, a total of 8,625 Start-ups have been recognised as on 30 March, 2018.
2711 start-ups where incorporated in 2017-18. This information was given by Minister of State of Commerce & Industry, Shri C. R Chaudhary in a written reply in the Rajya Sabha today.
The Minister said that the ‘State Startup Ranking Framework’ is spread across 7 areas of interventions with a total of 38 action points and overall score of 100 marks.
The areas of interventions include
Startup policy and implementation,
incubation support,
seed funding support,
venture funding support,
simplified regulations,
ease of public procurement and
awareness and outreach.

1.72 Lakh Patents Waiting For Disposal

[New Delhi]1.72 Lakh Patents Waiting For Disposal .Patent offices working in Delhi, Chennai, Kolkata and Mumbai
Department of Industrial Policy and Promotion (DIPP) has taken multipronged approach to increase disposal of patent applications. The pendency of patent applications at examination stage has come down from 2.04 lakh as on 31st March 2017 to 1.72 lakh as on 28th of February this year.
This information was given by the Minister of State of Commerce and Industry, C R Chaudhary, in a written reply in the Lok Sabha today.
He said that 6235 applications were examined in February 2018 as against 3925 during the corresponding period during last year.
The Minister informed that the manpower has been augmented for examination and disposal patent applications, 495 Examiners of Patents and Designs have been recruited and 84 new posts of Examiners and 95 posts of controllers have been sanctioned for patent offices.

Prabhu Invites Inc Collaboration for New India:CII Conference

 Union Minister Suresh Prabhu

Union Minister Suresh Prabhu

[New Delhi] Suresh Prabhu Invites Inc Collaboration for New India
Government and Indian Incis required to work as a team for translating the vision of New India into reality.
A plan where people and government work together on a single platform has to be put in place with collaborative efforts and shared responsibilities, said Suresh Prabhu, Union Minister for Commerce & Industry, Government of India while addressing the CII Northern Region Annual Conference on New India: Translating Aspirations into Reality at New Delhi, today.
Manufacturing sector’s contribution to GDP stands at 16% at present as against the desired target of 20%. To enhance contribution of manufacturing to GDP, path breaking initiatives have been taken by the Government. Some of these initiatives include pumping in unprecedented Rs.3.75 lakh crores into Indian Railways, investments in infrastructure, strengthening of Ease of Doing Business, comprehensive policy for air cargo, etc.
Capt Abhimanyu, Minister for Finance, Government of Haryana hailed CII for playing a key role in unleashing competitive and cooperative federalism amongst states and made them realise of their potential and unique advantages.
Ms Shobana Kamineni, President, CII, said “, India has the potential for 8% growth rate in the coming few years..Reforms such as GST, Bank Recapitalization, Insolvency and Bankruptcy Code, etc. have provided impetus to investments.”
Chandrajit Banerjee, Director General, CII, said that CII would continue to work closely with the Central and state governments in realising Hon’ble Prime Minister’s vision of creating a ‘New India’ by 2022.
Sumant Sinha, Chairman, CII Northern Region, said, “We believe that it is imperative to identify certain parameters and work on those in a time-bound manner to take India to a higher and sustainable growth trajectory. While Central Government is giving a vision and working towards creating a necessary ecosystem, the real action is in the states. Support and backing of the citizens is imperative to bring major transformation.”

Center Launches 3 New Tools For Ranking Of Startups

[New Delhi] Center Launches 3 New Tools For Ranking Of Startups , to drive India’s economic growth.
Three new tools for States and Union Territories for ranking of startups in the country was launched by Union Minister of Commerce and Industry at a function today.
The tools are:
the State and Union Territory Startup Ranking Framework,
the Compendium of Good Practices for Promoting Startups in India and the
Startup India Kit.
India is home to about 20K startups, with about 1,400 beginning operations every year.
Entrepreneurs are introducing new solutions everyday and also improving existing processes.
The key objective of the Startup States and UTs Ranking Framework is to encourage States and UTs to take proactive steps towards strengthening the Startup ecosystems at the local level.

Nirmala Discusses Trade Deficits With Chinese Shouwen

[New Delhi]Nirmala Discusses Trade Deficits With Shouwen And Demands Market Access for Indian Goods in the Chinese Markets.
In a Bilateral Meeting , Commerce and Industries Minister, Mrs Nirmala Sitharaman and Wang Shouwen, Vice Minister for Ministry of Finance and Commerce, China exchanged notes on trade and commerce and agreed that the mounting bilateral trade deficit has been a cause for concern for India which seeks greater market access for its goods for a long term sustainable trade relationship.
Commerce Minister requested for expeditious clearances for import of Indian Rice and a ‘Green Channel’ for import of Indian Pharmaceutical products to China – especially those which already have USFDA and EUFDA accreditation.
She also requested the Chinese Vice minister to consider demonstration IT/ITeS projects for Indian companies – which have acquired global acclaim.
She expressed concerns at the long drawn procedures for clearances which tend to frustrate the Indian companies seeking business opportunities in China.
Smt. Sitharaman requested for ‘buying missions’ to India to source amongst other things, Indian Tobacco and oil meals.
The two leaders in consonance with the apex level meetings convened by the Prime Minister Mr Modi and Mr Xi Jinping, agreed that measures on providing greater market access for Indian goods and services in China need a demonstrative action.
The Chines Vice Minister assured that China would act on the concerns expressed by India regarding market access for Indian goods in the Chinese markets.
He informed that recently China has quickened the pace of granting clearances to Indian Pharma companies for import of Indian Pharma products.
The Chinese Vice Minister further requested the cooperation of India in the various multilateral fora where China and India are engaged – the RCEP and assured that India’s concerns on a ‘Single undertaking’ will be duly taken on board with services being an integral part of the cooperation agreement.

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आतिशबाजी के शौकीन ध्यान दें!विदेशी पटाखे फोड़ना और इनका व्यापार करना पूर्णतया प्रतिबंधित हैं

[नई दिल्ली]आतिशबाजी के शौकीन ध्यान दें!विदेशी पटाखे प्रतिबंधित हैं|इनके आयात के लिए भी कोई लाइसेंस नहीं दिया गया है |
डिपार्टमेंट ऑफ़ इंडस्ट्रियल पालिसी & प्रमोशन द्वारा जारी विज्ञप्ति में स्पष्ट किया गया है के विदशी पटाखों [Fireworks]को रखना और उनकी तिजारत करने पर पूर्णतया प्रतिबन्ध है |गौरतलब हे के सल्फर युक्त विस्फोटकों+पटाखों को भारत में को वर्जित[ Restricted] श्रेणी में रखा गया है| चूंकि इनके आयत के लिए कोई लाईसेन्स जारी नहीं किया जाता इसीलिए इनका प्रयोग और व्यापार दंडनीय अपराध की श्रेणी में आता है

Govt Recognizes 223 Starters Only For Rs 10K Cr Funded Startup India Programme

[New Delhi]Govt Recognizes 223 Starters Only For Rs 10K Cr Funded Startup India Programme
223 Out Of 793 Starters Only Recognized For Rs 10000 Cr Under Startup India Programme
793 startups have applied for recognition so far under the ‘Startup India’ programme.
223 startups have been recognized by the Government so far. A ‘Fund of Funds’ (FFS) of INR 10,000 crores for Startups has been established which is being managed by SIDBI. The fund will invest in SEBI registered Alternative Investment Funds (AIFs) which, in turn, will invest in Startups. Till date, SIDBI has sanctioned an amount of Rs.168 crore towards the corpus of 6 AIFs under FFS.
These AIFs shall invest in startups across sectors and States.
At present Govt has no such state-wise, information to share
This information was given by the Commerce and Industry Minister Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today.