As part of the ease of doing business in the country, the government is committed to introducing a single-window clearance mechanism for investors by mid-April next year. This technology-based platform for both domestic or global investors envisages to give all the information about the land, procedures, requirements and requirements to get that investment proposal cleared. "It will lead to a unified single sheet of information, which other approval ministries will draw. So, the investor doesn't have to do multiple applications in the end. Although, it is not going to replace any important approval because these are all important approvals.
India jumps eight places among 50 countries in global Intellectual Property (IP) index 2019
The IP index 2019, brought out by the US Chamber of Commerce's Global Innovation Policy Center (GIPC) showed that India ranked 36th of 50 economies, eight places up from 44th place last year. India's overall score has also increased substantially from 30.07% (12.03 out of 40) in the previous edition to 36.04% (16.22 out of 45) in the present edition.
In October 2018, the Supreme Court announced that the Indian automotive industry will transit from the Bharat Stage (BS)-IV emission norms to the BS-VI emission norms on April 1, 2020. From this date onwards, only BS-VI compliant vehicles will be sold in the country. While initially this was considered as a big challenge due to the skipping of the BS-V stage, the industry is now ready to meet the new emission standards.
Government is preparing plan for $100 billion FDI inflow: Commerce and industry minister
According to Commerce and Industry Minister, Government of India is working on a blueprint to increase FDI inflows to $100 billion through a targeted approach. The minister also outlined his strategy to create a win-win partnership with other countries and retain the focus on a collaborative approach to global trade at a time when countries such as the US were seeking to undermine the relevance of the World Trade Organization (WTO).
India and European economic major Netherlands singed Customs Treaty which will boost trade ties between the two countries through an efficicent management of customs rules. In the last 15 years, the Netherlands has invested 15 billion USD in India and in the past few years, the Netherlands was one of the 5 largest investors in India while at the same time India was in the top-5 investors in Netherlands.
The European Union is upbeat on Indian innovators, startups, incubators and accelerators for collaboration in space technology. The collaboration has been on for almost four years, the two sides are also working together in the space sector on Copernicus and Galileo, the EU’s flagship Earth observation and navigation programmes, respectively. For Galileo, the grouping is promoting startups and Global Navigation Satellite System (GNSS) market applications in India.
Centre releases publication on climate action in India
Environment Minister has released a publication on climate action titled 'India - Spearheading Climate Solutions' which mentions the key actions India has taken under various sectors towards combating and adapting to climate change. Some of the major initiatives mentioned in the publication include the Union Ministry's National Action Plan on Climate Change (NAPCC), National Adaptation Fund on Climate Change (NAFCC), Climate Change Action Programme (CCAP), State Action Plan on Climate Change (SAPCC), International Solar Alliances (ISA), and Atal Mission for Rejuvenation and Urban Transformation (AMRUT).
India 2.0 plan: Volkswagen opens new R&D facility in Pune, India
Volkswagen, German multinational automotive manufacturing company, opened a new R&D facility in Pune as part of the group’s ‘India 2.0’ plan that calls for a Rs 2,000-crore (250 miilion euros) investment into R&D, helping enhance the local content in the cars to be sold in the world’s fastest-expanding major economy.
Government to approve power tariff policy soon: Power Minister
The government will soon approve the power tariff policy which would provide for a penalty for unscheduled power cuts except in the case of technical faults or act of God (natural calamities) by distribution companies from April 1, 2019. In addition, second version of UDAY scheme (UDAY 2.0) meant for revival of debt-laden discoms is being worked out and would be launched with more technological interventions to reduce their Aggregate Technical and Commercial (AT&C) losses.
Government allocated INR 3,004.90 crore for development of solar power
Government has allocated Rs 3,004.90 crore (over €375 million) for development of solar power projects next financial year (2019-20) including both grid-interactive and off-grid and decentralized categories. Under grid-interactive schemes, the budgeted allocation for solar is seen rising 15% to Rs 2,479 crore (about €310 million) while the allocation for solar projects under off-grid and decentralized renewable power is seen declining 35% to Rs 525 crore (over €65 million) for FY 2019-20.