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.