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.
Government unveiled Draft National E-commerce policy
Department for Promotion of Industry and Internal Trade (DPIIT) has released a draft National E-commerce Policy with aims to create a framework for achieving holistic growth of the e-commerce sector along with existing policies of Make in India and Digital India. The draft addresses six broad issues of the e-commerce ecosystem: Data, Infrastructure development, E-commerce marketplaces, Regulatory issues, Stimulating domestic digital economy and Export promotion through e-commerce.
Government’s think tank NITI Aayog is working on an ITeS policy to introduce Intelligent Transport System (ITS) in the country in the wake of increasing fatalities.The Government would soon be announcing measures to curb the high deaths occurring on roads, Many initiatives towards transportation are taken where the idea is to have seamless, connected, shared, digitalized and zero-emission free mobility.
National Industrial Policy on value chain awaiting cabinet approval
A new National industrial policy, aimed to develop global value chains, and to boost India’s manufacturing competitiveness, is awaiting cabinet approval. Manufacturing cannot happen end to end only in one geography, and it has to be part of a global value chain and global supply chain. That is why a new industrial policy focusing on developing mutually beneficial value chain and supply chains is required.
Union Cabinet approved new National Electronics Policy (NEP) 2019
The Cabinet has approved National Policy on Electronics 2019 in February 2019, which was proposed by Ministry of Electronics and Information Technology (MEITY) in 2018. The Policy aims to position India as a global hub for Electronics System Design and Manufacturing (ESDM) by encouraging and driving capabilities in the country for developing core components, including chipsets, and creating an enabling environment for the industry to compete globally. NEP 2019 replaces NEP 2012.
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.
The Union Cabinet has approved the National Policy on Software Products 2019 to develop India as the global Software Product hub, driven by innovation, improved commercialization, sustainable Intellectual Property (IP), promoting technology startups and specialized skill sets. Policy aims to help the industry grow at CAGR of 40% to reach USD 70-80 billion by 2025, while creating employment opportunities for 3.5 million people.