Danish energy efficiency manufacturer Danfoss A/S' $3.3 billion global acquisition of power management company Eaton's hydraulics division is expected to conclude by the end of this year, said a top official of Danfoss India. Danfoss India will be investing Rs 25 crore (3.1 million euro) in expanding production here and targets to close 2020 with a turnover of Rs 2,000 crore (250 million euro). The 6.3 billion euro turnover Danfoss business segments are classified under power solutions, cooling, drives and heating and it supplies components and systems for original equipment manufacturers.

India is planning a new law to safeguard foreign investment by speeding up dispute resolution, aiming to attract more capital from overseas to boost stuttering domestic growth, two officials with direct knowledge of the matter told Reuters. In a 40-page initial draft, India's finance ministry has proposed appointing a mediator and setting up fast-track courts to settle disputes between investors and the government. The draft proposal is aimed at diffusing investor mistrust around the sanctity of agreements, which has worsened recently.

India will not bar any equipment suppliers, such as China's Huawei, in the upcoming trials for 5G.  Telecom Minister said that the government will allocate airwaves to all telecom service providers for conducting trials of super-fast speed 5G networks. Huawei rivals western equipment makers, such as Ericsson, and is banned in the US. Many countries, however, have allowed telecom service providers to use Chinese gears. And now, India has also indicated its unwillingness to keep any company out of 5G trials.

The New Foreign Trade Policy will come into effect by April 1, 2020, from Directorate General of Foreign Trade (DGFT). DGFT is committed to help industry in the ease of doing business. There are several export promotions schemes and the exporters must reap the benefit out of them. The DGFT is committed to multi-lateral trading system and is currently reworking on making the schemes compliant with the WTO guidelines

There is a target to formulate technical regulations for about 5,000 products. The Bureau of Indian Standards (BIS) has been tasked to prepare these regulations. India imports about 11,500 goods per year. Union Budget 2020 India: Finance Minister said all ministries will issue quality standards orders during the course of this year. The move would help in promoting sale of quality goods in the country and cut import of sub-standard goods.

The government of India notified 12 electronic products, including external hard drive, wireless headphone and earphones, television other than plasma, LCD and LED TV sets, that would require mandatory registration under the Bureau of Indian Standards (BIS) before sale in the country. The government in the notification for "Addition of product categories to the Schedule of the "Electronics and Information Technology Goods (Requirements for Compulsory Registration) Order, 2012"…..

No imports will be allowed without HSN code into the country said the Union Minister of Commerce & Industry and Railways. Commerce & Industry Minister said that henceforth there must be zero tolerance for substandard products and services from industry and consumers. Government will support industry in every way to establish standards for Indian goods and services to meet international requirements so that brand India is recognized in the world as a provider of quality products and services.

The Union Commerce and Industry Ministry today announced changes in the Foreign Trade Policy (FTP) of Government of India. The present Policy which came into force on 1^st April 2015, is for 5 years and has validity upto 31^st March, 2020. In view of the unprecedented current situation arising out of the pandemic Novel COVID-19, the Govt. has decided to continue relief under various export promotion schemes by granting extension of the existing Foreign Trade Policy by another one year i.e. up to 31^st March 2021. Several other relief measures have also been announced to support trade and industry. 

To boost up Smart City Mission, the Government of India devised a 20-20 model according to which top 20 cities will be paired with the bottom 20 cities. The arrangement is made in such a way that it would initiate knowledge sharing among the cities and provide a chance to the laggard cities for adapting best practices from their partner cities. The cities paired will be signing a MoU and the pairs are named as “sister cities”.

As many as 5,151 projects worth more than Rs 2 lakh crore are being implemented in 100 cities under the government's smart city mission, the Economic Survey highlighted.  Talking about achievements of 'Smart Cities Mission' (SCM), the Survey said all 100 cities under the mission have incorporated Special Purpose Vehicles (SPVs), City Level Advisory Forums (CLAFs) and appointed Project Management Consultants (PMCs).