Explain the support by government of India to internal trade sector
Answers
Answer:
1.1.1 The Department for Promotion of Industry and Internal Trade (DPIIT) was established in the year 1995 and was reconstituted in the year 2000 with the merger of the Department of Industrial Development. Earlier, separate Ministries of Small Scale Industries & Agro and Rural Industries (SSI &ARI) and Heavy Industries and Public Enterprises (HI&PE) were created in October, 1999. The department was earlier called Department of Industrial Policy & Promotion; and was renamed as DPIIT in January, 2019.
1.1.2 In 2018, matters related to e-commerce were transferred to the Department and in 2019, the Department has been given charge for matters related to Internal Trade, welfare of traders and their employees and Startups. The role of DPIIT is to promote/accelerate industrial Development of the Country by facilitating investment in new and upcoming technology, foreign direct investment and support balanced development of industries.
1.2 Allocation of Business to the Department
1.2.1 According to the Allocation of Business (AOB) Rules, as updated, the Department is responsible for determining the Industrial Policy at Central Government level, including the following matters:
Productivity in Indian industry
Industrial Management
Matters related to e-Commerce and start-ups
Facilitating Ease of Doing Business (EoDB)
Promotion of internal trade including retail trade, welfare of traders and their employees, and
Administration of Industries (Development and Regulation) Act, 1951, grant of Industrial Licenses (IL) and acknowledging Industrial Entrepreneurs Memorandum (IEM).
1.2.2 The Department handles matters related to Protection of Intellectual Property Rights (IPR) and administers six Acts related to IPRs. The Department also handles matters related to Foreign Direct Investment (FDI) and undertakes promotion of investment for industrial development of the country. There are five territorial divisions for international cooperation and industrial promotion handling matters emanating from Americas, Europe, CIS countries, Africa and Middle East, and Asia and Oceania.
1.2.3 The Department is responsible for promotion and development of sectors related to cables, Light Engineering Industries, Light Industries, Light Electrical Engineering Industries, Paper and Newsprint, Tyres and Tubes, Salt, Cement, Ceramics, Tiles and Glass, Leather Goods Soaps and detergents and Industries not covered by other Ministries/Departments
Answer: Trading enables mutual exchange of goods and services and is also the foundation of markets comprising diverse goods and services. Goods and services are in turn, an embodiment of the division of labour in a society since they represent diverse kinds of labour and skills.