Ministry/Department : Ministry of Commerce and Industry Objective: Aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive for growth of Start-ups. The objective is that India must become a nation of job creators instead of being a nation of job seekers. Scheme: It is focused to restrict role of States …
National Export Insurance Account(NEIA) Trust: NEIA Trust was set up in 2006 by the Ministry of Commerce and Industry. Aim: To ensure the availability of credit risk cover for projects and other high-value exports, which are desirable from the point of view of national interest but which Export Credit Guarantee Corporation of India (ECGC) is unable to …
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Ministry : Ministry of Commerce and Industry Scheme: Announced in the year 2020. It came into effect on January 1st, 2021. The scheme replaced the Merchandise Export from India Scheme(MEIS). MEIS was not compliant with the rules of the World Trade Organisation(WTO). US lodged a complaint against India’s MEIS scheme in WTO. Further, a dispute settlement panel …
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Ministry: Union Minister of Commerce & Industry Aims to provide financial assistance to startups. Assistance is provided for proof of concept, prototype development, product trials, market entry, and commercialization. Startup India Seed Fund Scheme (SISFS): Implementation: The Department for Promotion of Industry and Internal Trade (DPIIT) constituted an Experts Advisory Committee(EAC) which will be responsible for the …
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Nodal Ministry: Department of Commerce, Ministry of Commerce and Industry Objective: It is an Export Promotion Scheme. The scheme aims to act as a catalyst to promote India’s exports on a sustained basis. Product and Country Focus Approach: The scheme is formulated on the basis of the product and country focus approach. It will evolve specific markets and …
Make in India Initiative: Launched Year: It was launched in 2014 by the Government of India. Aim: To make India a global hub for the manufacturing, research and innovation. Also, the integrations of India in the global supply chain. Objectives: To increase the manufacturing sector’s growth rate to 12-14% per annum in order to increase the sector’s …
One District One Product Scheme(ODOP): Aim: To identify one product per district based on the potential and strength of a district and national priorities. A cluster for that product will be developed in the district and market linkage will be provided for that. Significance: This initiative is seen as a transformational step towards realizing the …
MPEDA is a nodal coordinating state owned agency engaged in fishery production and allied activities. It was established in 1972 under Marine Products Export Development Authority Act (MPEDA), 1972. It functions under Union Ministry of Commerce and Industry. It is headquartered in Kochi, Kerala. Its mandate is to increase exports of sea food including fisheries …
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Ministry/Department : Ministry of Commerce & Industry Scheme: MEIS was launched under Foreign Trade Policy of India (FTP) 2015-20. It is one of the two schemes introduced in FP 2015-20, as a part of Exports from India Scheme. The other scheme is Service Exports from India Scheme (SEIS). Objective of MEIS is to offset infrastructural …
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