“Start-up Accelerators of MeitY for Product Innovation, Development and growth (SAMRIDH)” programme, was launched by Ministry of Electronics & Information Technology so as to create a conducive platform to Indian Software Product star-ups to enhance their   products and securing investments  for  scaling  their  business. The programme is being implemented by MeitY Start-up Hub (MSH).

The Commerce and Industry Ministry is set to introduce further reforms in the patent filing process to expedite the application, examination, and approval of all intellectual property rights, according to sources. The focus remains on patent filings, which has been pushed by the government over the past three years.

The commerce ministry said it unveiled plans for freight smart cities to improve urban freight efficiency and create an opportunity for reduction in the logistics costs. Under the freight smart cities initiative, city-level logistics committees would be formed, and they will have related government departments and agencies at the local and state levels. These would also include the private sector from the logistics services and users of logistics services, the ministry said in a statement.

The government has notified Production Linked Incentive (PLI) Scheme for automobile and auto components after approving it on September 15. The PLI Scheme aims to overcome the cost of disabilities and encourage the industry to make fresh investments to make advanced auto products. It is estimated that in five years, this PLI Scheme will lead to fresh investments of over Rs 42,500 crore (€8.5 billion), and incremental production of over Rs 2.3 lakh crore (€27 billion). It will create additional jobs of over 7.5 lakh jobs and enhance India's share in the global automotive trade

According to a recent report, India’s electric vehicle financing industry is projected to be worth Rs 3.7 lakh crore (€43.5 billion) in 2030, which would be about 80% of the current retail vehicle finance industry. The government is planning to set up an institution to fund businesses with a focus on electric vehicles as well as facilitate new financial instruments for lending to the public transportation and commercial vehicle segment, Union minister Nitin Gadkari said. Gadkari also said the government is planning to bring incentives for construction equipment vehicles to encourage them to become electric ones.

The Covid-19 pandemic and its damage to the Indian economy did not deter the discerning investors from lapping up opportunities in the electric vehicle and e-mobility sector. Many financial deals and the funds involved vindicate this fact. Collective investment done by e2W, e4W, EV component makers, electric commercial vehicles, and last-mile delivery companies was recorded at INR 25,045.31 crores (€2.9 billion) during January-July 2021. Electric commercial vehicles led the investments with a 32% share. Electric 4W saw an investment of 28% where M&M invested INR 3000 crore (€0.35 billion) making its contribution at 12%. It has already invested INR 1,700 crore (€0.2 billion) in India's EV business, with another INR 500 crore earmarked for a new research and development (R&D) centre

During the pandemic, India has reported the highest increase in the use of AI at 45%, as compared to other major economies (the US at 35%, the UK at 23 % and Japan at 28 %). In fact, AI startups in India attracted total funding of $836.3 million in 2020. Also, despite the total number of high-value funding shrunk, the companies that received funding almost doubled in 2020 compared to 2019,” according to homegrown independent Transaction Advisory firm, RBSA Advisors. According to the study titled ‘Artificial Intelligence & Its role in Delivering Economic Value to Indian Enterprise, investment in AI has accelerated in India during the pandemic and the country has a potential to be a global epicentre of AI. IT services and technology sectors contribute to more than 60% of the AI market, followed by BFSI, engineering and retail.

Telecom department's apex body the Digital Communications Commission (DCC) has cleared a provision of using satellite connectivity in telecom networks to provide services in remote areas where it is difficult to lay optical fibre network. Telecom Secretary said that the DCC (formerly the Telecom Commission) has also cleared the Request for Proposal for the rollout of BharatNet project for broadband services in villages in 16 states in public private partnership mode with viability gap funding of Rs 19,041 crore (€2.2 billon). "With a view of ease of doing business, the DCC has approved provision of cellular backhaul connectivity via satellite through VSAT for telecom services as per Trai recommendation. "This will help telecom companies in providing service in far flung areas where it is difficult to lay optical fibre," Prakash said.

• Public Procurement (Preference to Make in India) to provide for Purchase Preference (linked with local content) in respect of Renewable Energy (RE) Sector Read more/Download>>

• Financial Support Scheme to Promote Innovative Industrial Organic Waste-to-Energy (IOWtE) Biomethanation Technologies and Business Models in India & GIS Waste Mapping Tool under GEF-MNRE-UNIDO Project Read more>>

• Invitation for Expression of Interest (EOI) for conducting evaluation of the programme/scheme for "Development of Solar Parks and Ultra Mega Solar Power Projects".

• Production Linked Incentive scheme: For enhancing India’s Manufacturing capabilities and exports, an outlay of Rs 1.97 lakh crore (€23.2 billion) has been announced in Union Budget 2021-22 for production linked incentive scheme for 13 key sectors for 5 years starting from fiscal year 2021-22.

• Ease of doing business and compliance burden: Initiatives taken for compliance reduction are focused on simplifying and digitizing various processes, reduction in documents in documents to be submitted along with applications, reduction in frequency of inspections, etc. 

• Foreign Direct Investment (FDI): 100% FDI is permitted in manufacturing sector under automatic route.

• Public Procurement: To promote domestic investment and usage of made in India products by the government, the public procurement (Preference to Make in India) order has been revised on 16.09.2020

• Industrial Corridor: The National Corridor Program (NICP) has been conceived to promote world class manufacturing facilities and develop futuristic industrial cities in India.