TheDepartment for Promotion of Industry and Internal Trade (DPIIT) is acentral government department under theMinistry of Commerce and Industry in India. It is responsible for formulation and implementation of promotional and developmental measures for growth of theindustrial sector, keeping in view the national priorities and socio-economic objectives. While individual administrative ministries look after the production, distribution, development and planning aspects of specific industries allocated to them, DPIIT is responsible for the overall industrial policy. It is also responsible for facilitating and increasing theforeign direct investment (FDI) flows to the country.
The department in its current form came into being on 27 January 2019, when the erstwhileDepartment of Industrial Policy & Promotion was renamed toDepartment for Promotion of Industry and Internal Trade (DPIIT) after internal trade was added to its mandate.[1]
The current Minister isPiyush Goyal .
The department was originally established in 1995, and was reconstituted in the year 2000 with the merger of Department of Industrial Development.
DPIIT is the nodal Department in Government of India for coordinating and implementing programmes with theUnited Nations Industrial Development Organization (UNIDO) in India. The department also coordinates with apex Industry Associations such asFederation of Indian Chambers of Commerce and Industry,Confederation of Indian Industry,ASSOCHAM,Internet and Mobile Association of India (IAMAI) in their activities relating to promotion of industrial cooperation and to stimulate FDI into India.
It is currently working to frame a new industrial policy, to be the third such policy inIndia since its independence in 1947. However, the deadline for completing the policy has been repeatedly pushed back since January 2018.[2]
The department has created an online portal called the India Investment Grid (IIG), an interactive investment portal providing details of sectors, states and projects in which domestic and foreign investors may sink in capital.[3] in association with Invest India,[4] India's national investment and facilitation agency. The initiative not only allows investors across the globe to easily search, identify and track investment worthy projects, but also allows promoters to highlight their projects along with requirements like funds, technology and collaboration needs with global audience.
The department is the nodal body for theStartup India initiative, which aims to make India a hub for startups. It aims to discard restrictive States Government policies within this domain, such as License Raj, Land Permissions, Foreign Investment Proposals, and Environmental Clearances.
According to the government, the focus areas include reduction in patent registration fees, freedom from mystifying inspections for first 3 years of operation, freedom from Capital Gain Tax for first 3[clarification needed] of operation, as well as self-certification compliance.
The government has loosed the norms for startups and their backers to seek exemption from Angel Tax, but the tax remains. Almost 14,000 startups have been registered by DPIIT through its portal.[5]
The department is currently framing the e-commerce policy, a set of rules aimed at streamlining and regulating the digital business ecosystem.[6][7]
DPIIT is also responsible forintellectual property rights relating topatents, designs,trademarks,copyrights, layout-designs of integrated circuits, andgeographical indication of goods, and oversees the initiative relating to their promotion and protection.[8]
This is a startup ecosystem registry to help startups. Bhaskar is aimed to foster a dynamic and inclusive environment for innovation and entrepreneurship. The initiative is designed to bring together a diverse array of stakeholders—ranging from entrepreneurs and government bodies to investors and academic institutions—onto a single, integrated platform.[9]
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