Domestic Industry

India looks to bring 50 products under quality control order by next fiscal

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, ..

India's Q3 current account deficit likely rose on widening trade gap: Poll

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

Retail leasing rises 114% Y-o-Y, crossed 3.4 mn sq ft in 9 months: Report

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

Discussion underway to extend PLI scheme to more sectors: Official

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,

Should India exclude Chinese from the sub-Rs 10K 5G device category?

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

Make in India, cutting imports dependency need of the hour: PM Modi

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

Cabinet nod for seven new textile parks with Rs 4,445 crore outlay

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

Inadequate planning

PLI schemes are being spread across too many sectors

High demand from domestic travelers makes Goa fastest recovering market

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

87% domestic businesses considering flexible remote working models: Report

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

Status check of PLI schemes that aim to make India world's factory

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

Tariff uncertainty

Tinkering with rates will put off investment and hurt exports

India's two looming challenges

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

Enhancing competitiveness can help India become factory of world: Jindal

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.

Best of BS Opinion: India's embrace of Quad, local and global this Diwali

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

The local and the global this Diwali

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

Fix a sunset date

Open-ended tariff protection will affect competitiveness

DRDO identifies 108 military systems for production by domestic industry

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.

India's balance of payments will be very strong, says Piyush Goyal

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

Restrictions on TV imports to help domestic industry build capacities: ICEA

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