Domestic Industry

India is looking to bring as many as 50 products such as aluminium, copper items, and household electrical appliances under the quality norms by the second quarter of 2023-24, a move aimed at containing import of the sub-standard goods and boost domestic industry. According to a communication of the department for promotion of industry and internal trade (DPIIT), it is continuously engaged with BIS (Bureau of Indian Standards) and concerned stakeholders for identification of products for which quality control orders (QCOs) could be issued. The items, under these orders, cannot be produced, sold/traded, imported and stocked unless they bear the BIS mark. It said that the DPIIT is in the process of formulating QCO for various products. These orders are issued by the department in consonance with the WTO Agreement on Technical Barriers to Trade (TBT) for industries falling under its domain. It is our endeavor to issue about 50 QCOs by the second quarter of 2023-24. In this regard, ..

A revival in domestic demand in Asia's third-largest economy since the Covid-19 pandemic has also compounded the shortfall through higher imports

Hyderabad, Delhi- NCR, Mumbai, and Bangalore account for 79% of overall retail space absorption

There are demands to extend production linked incentive (PLI) scheme to more sectors such as certain electronic components, pharma and medical devices, and discussions are underway in the government on these proposals, a senior government official said. Discussions are also going on to bring PLI scheme for toys, furniture, bicycles and containers. The objective of the scheme is to make domestic manufacturing globally competitive, create global champions in manufacturing, boost exports and create jobs. The government last year rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, textiles, advanced chemistry cell (ACC) and speciality steel. "So, from Rs 1.97 lakh crore, there are savings from some sectors. So against those savings, things are being planned. Proposals are under consideration," the official said. Demand for including sectors like certain electronic components, toys, furniture,

Telecom firms and others are concerned that such a move could stymie the effort to build affordable 5G phones in the sub-Rs 10,000 category

Prime Minister Narendra Modi on Thursday said Make in India is the need of the hour and appealed to the industry to reduce dependence on imports and boost domestic manufacturing

The parks will be set up at greenfield or brownfield sites. States with contiguous and encumbrance-free land parcels of over 1,000 acres, along with other textiles ecosystems can apply

PLI schemes are being spread across too many sectors

India's hospitality industry witnessed a decline of 38.7% in revenue per available room (RevPAR) during Q1 2021 as compared to Q1 2020

A whopping 93 per cent agreed that video conferencing tools will continue to be essential beyond the pandemic

Last year, the govt introduced a PLI scheme for mobile phones, electronic components, critical pharma drugs and medical devices, which saw huge traction among global as well as Indian manufacturers

Tinkering with rates will put off investment and hurt exports

Government's New Year resolutions should be to revive domestic demand while addressing the Chinese threat

Removal of bottlenecks and enhancing competitiveness of the domestic industry can help India become the "factory of the world", industrialist Sajjan Jindal said on Tuesday.

Here's a selection of Business Standard opinion pieces for the day

Govt is pushing for buying local and going digital. The contradiction between the two cannot be missed

Open-ended tariff protection will affect competitiveness

DRDO has identified 108 military systems and subsystems like navigation radars, tank transporters and missile canisters for the domestic industry to design, develop and manufacture.

Says overseas companies must stop having an 'assembly workshop' approach

The government on last Thursday imposed restrictions on TV imports, a move aimed at promoting domestic manufacturing and cut inbound shipments of non-essential items from countries like China