Draft e-commerce rules and their challenges – Explained, pointwise

Introduction The government has proposed changes to the e-commerce rules under the Consumer Protection Act to make the framework under which firms operate more stringent. It comes 11 months after the Government notified the Consumer Protection (E-Commerce) Rules, 2020, The latest proposals aim towards greater compliance and protecting the interests of consumers. Ministry of Commerce and Industry has earlier… Continue reading Draft e-commerce rules and their challenges – Explained, pointwise

“Gold hallmarking” Becomes Mandatory

What is the News? The government has announced the phased implementation of mandatory Gold Hallmarking of Jewelry, with effect from June 16, 2021. What is gold Hallmarking? The Bureau of Indian Standard (BIS) operates the gold and silver hallmarking scheme in India. It defines hallmarking as the accurate determination and official recording of the proportion of… Continue reading “Gold hallmarking” Becomes Mandatory

“OFB Corporatisation” Approved by Cabinet

What is the News? The Union Government has approved a plan for Ordnance Factory Board(OFB) Corporatisation. About Ordnance Factory Board(OFB): Ordnance Factory Board(OFB) is an umbrella body of 41 Ordnance Factories. Origin: In 1775, British authorities accepted the establishment of the Board of Ordnance in Fort William, Kolkata. This marked the official beginning of the Army… Continue reading “OFB Corporatisation” Approved by Cabinet

Govt launches the first phase of “MCA21 version 3.0” online portal

What is the News? The government of India has launched the first phase of the MCA21 version 3.0 to its digital corporate compliance portal. About MCA21: Firstly, MCA21 is the online portal of the Ministry of Corporate Affairs(MCA). It was initially launched in 2006. Secondly, Purpose: It has made all company-related information accessible to various… Continue reading Govt launches the first phase of “MCA21 version 3.0” online portal

Analysing the Social security code 2020 for Informal Workforce

Synopsis: Critical analysis of the social security code 2020  reveals that it is short of providing universal social security for informal workers. Background Informal workers constitute 91% of the workforce. The Pandemic had pushed them into severe poverty and debt burden due to loss of livelihoods. Social security arrangements could have saved them from the… Continue reading Analysing the Social security code 2020 for Informal Workforce

Indian Offshore Model will Dominate Global IT Sector

Synopsis: The Indian IT industry will dominate the global landscape due to various advantages associated with the offshore model Introduction: According to analysts, India is increasingly becoming an attractive market for tech companies from all over the world. What is the offshore model or the Work from home model? In simple terms, it is the… Continue reading Indian Offshore Model will Dominate Global IT Sector

“RoDTEP Scheme” -Delay in Notification of Rebate Rates

What is the News? Exporters are upset over the inordinate delay in the notification of the rates under the RoDTEP (Remission of Duties and Taxes on Exported Products) Scheme. About Remission of Duties and Taxes on Exported Products(RoDTEP) Scheme: Ministry of Commerce and Industry announced the RoDTEP scheme in the year 2020. It came into effect… Continue reading “RoDTEP Scheme” -Delay in Notification of Rebate Rates

“Startup India Seed Fund Scheme” launched

What is the News? Union Minister of Commerce & Industry launches the Startup India Seed Fund Scheme (SISFS). About Startup India Seed Fund Scheme (SISFS): The scheme was announced during the Prarambh: the ‘Startup India International Summit’. Which marks the 5-year anniversary of the Startup India initiative. Objective: Firstly, Startup India Seed Fund Scheme(SISFS) aims to… Continue reading “Startup India Seed Fund Scheme” launched

“National Startup Advisory Council” – First Meeting Held

What is the News? The Minister of Commerce & Industry chaired the first meeting of the National Startup Advisory Council(NSAC). About the National Startup Advisory Council(NSAC): National Startup Advisory Council(NSAC) was constituted by the Department for Promotion of Industry and Internal Trade(DPIIT). Purpose: To advise the Government on measures required to build a strong ecosystem for… Continue reading “National Startup Advisory Council” – First Meeting Held

Prospects of India’s Automotive industry

Synopsis: Automotive Industry will help India achieve a $5 trillion economy. A favourable government policy can support the Auto industry to grow by 10-12 per cent per year for the next 10 years. Recent developments in India’s automotive industry Increase in Demand: for example, in the last 3 decades passenger vehicle volume increased 15 times,… Continue reading Prospects of India’s Automotive industry

India will move towards mandatory “gold hallmarking”

What is the News? The government said that it is fully prepared to implement the mandatory hallmarking of gold jewellery and artefacts from June 1, 2021. What is Gold hallmarking? Gold hallmarking is a purity certification of precious metal. At present, It is voluntary in nature. Gold Hallmarking in India: In 2019, as per the… Continue reading India will move towards mandatory “gold hallmarking”

Insolvency and Bankruptcy Code Ordinance 2021 – Explained, Pointwise

Promulgated: April 4, 2021 Ministry: Finance Introduction The Parliament passed the Insolvency and Bankruptcy Code (IBC) in 2016. It is a comprehensive insolvency code encompassing all companies, partnerships and individuals (other than financial firms).  Based on the last five-year experience, the government wanted to introduce few changes to make the IBC more effective. Subsequently, The… Continue reading Insolvency and Bankruptcy Code Ordinance 2021 – Explained, Pointwise

“PLI Scheme” for white goods and solar photovoltaic modules

What is the News? The Union Cabinet approves two PLI schemes for white goods (air-conditioners and LED lights) and high-efficiency solar photovoltaic modules. About Production Linked Incentive Scheme(PLI): The Government of India launched the Production-Linked Incentive(PLI)  in March 2020. Aim: The aim is to make manufacturing in India globally competitive by removing sectoral disabilities, creating economies… Continue reading “PLI Scheme” for white goods and solar photovoltaic modules

IBC Amendment Ordinance 2021 Allows “Pre-Pack Insolvency Resolution”

What is the news? The President of India promulgates the IBC Amendment Ordinance 2021. It allows the use of Pre-Pack insolvency resolution. About Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021: IBC Amendment Ordinance 2021 amends the Insolvency and Bankruptcy Code, 2016. The Amendment allows the use of Pre-Packaged insolvency resolution as an alternative resolution mechanism… Continue reading IBC Amendment Ordinance 2021 Allows “Pre-Pack Insolvency Resolution”

Production-Linked Incentive or PLI Schemes and its challenges – Explained, pointwise

Introduction Recently the Ministry of Commerce & Industry submitted the Status of Production-Linked Incentive Schemes in India. PLI Scheme is a cornerstone of the Government’s push for achieving an Atmanirbhar Bharat. In the Union Budget 2021, the Finance Minister announced an outlay of INR 1.97 Lakh Crores for PLI Schemes in 13 key sectors. So far… Continue reading Production-Linked Incentive or PLI Schemes and its challenges – Explained, pointwise

Govt. Extends “Emergency Credit Line Guarantee Scheme”

What is the News? Government extends the Rs. 3-lakh-crore Emergency Credit Line Guarantee Scheme (ECLGS) until 30th June 2021. It also widens its scope to new sectors, including hospitality, travel and tourism. About Emergency Credit Line Guarantee Scheme (ECLGS): Emergency Credit Line Guarantee Scheme(ECLGS) launched as part of the Covid-19 relief package called the Atma Nirbhar… Continue reading Govt. Extends “Emergency Credit Line Guarantee Scheme”

Union Minister inaugurates Event for “DSIR-PRISM Scheme”

What is the News? The Union Minister for Science & Technology inaugurates the Event for Publicity of the PRISM (Promoting Innovations in Individuals, Startups, and MSMEs) scheme. About PRISM Scheme: Nodal Ministry: PRISM is an initiative of the Department of Scientific and Industrial Research(DSIR), Ministry of Science and Technology. Aim: The aim is to help… Continue reading Union Minister inaugurates Event for “DSIR-PRISM Scheme”

Concerns with the Insurance (Amendment) Bill, 2021

Synopsis:The Insurance (Amendment) Bill, 2021 has few important concerns. But the move is a welcome step to the Insurance sector. Introduction: The Lok Sabha has passed the Insurance (Amendment) Bill, 2021. The Bill had earlier been cleared by the Rajya Sabha also. Now it only requires the presidential assent to become a law. About the… Continue reading Concerns with the Insurance (Amendment) Bill, 2021

“Handicrafts and Handlooms Export Corporation” closed permanently

What is the News? Union Cabinet has approved the closure of loss-making Handicrafts and Handlooms Export Corporation of India Ltd(HHEC). About Handicrafts and Handlooms Export Corporation of India Ltd(HHEC): It is a central public sector undertaking (CPSE) established in 1958 under the administrative control of the Ministry of Textiles. Mandate/Objectives of the Handicrafts and Handlooms… Continue reading “Handicrafts and Handlooms Export Corporation” closed permanently

India’s Rise as the new global manufacturing hub

Synopsis: India’s recent achievements have positioned it as an alternative global manufacturing hub to China at the global level. Background Democratic countries consider a rising China, with its authoritarian one-party system, as a challenge to the democratic order. This provided the strategic case for the formation of Quadrilateral Security dialogue. It envisioned to develop a… Continue reading India’s Rise as the new global manufacturing hub

The ill effects of Job reservation for locals

Synopsis: Haryana has introduced a new law where it assures 75% Job reservation for locals. This could be a disastrous decision for the Indian Economy. Introduction The Governor of Haryana has approved a law that regulates job reservation in the private sector. This could possibly hamper India’s investment climate and its socio-economic framework. The Haryana… Continue reading The ill effects of Job reservation for locals

Concerns associated with Local Reservation Laws

Synopsis: Enactment of local reservation laws by states would have a negative impact on low-income internal migrants. Laws will also fail to go through the constitutionality test. Background: There have been numerous instances of subnational nativism in the past: Mulki rules in Nizam-ruled Hyderabad in the late 19th century Anti-South Indian movements in Bombay in… Continue reading Concerns associated with Local Reservation Laws

The Advantages of Work from Anywhere

Synopsis: The new policy of Work from anywhere gained momentum during the pandemic. It has multiple benefits for all stakeholders. Background Lack of clarity and flexibility in the US H-1B visa Programme remains major concerns for high-skilled Indian migrants, seeking to relocate to the U.S. This uncertainty was high during the Trump administration, with visa… Continue reading The Advantages of Work from Anywhere

Job reservation in private sector for locals – Explained, pointwise

Introduction Recently Haryana government notified its Haryana State Employment of Local Candidates Bill, 2020. This bill provides job reservation in the private sector for locals. Prior to Haryana, States such as Madhya Pradesh, Karnataka, Andhra Pradesh also tried to provide reservation in private jobs. Now the question is whether it is a constitutionally or legally… Continue reading Job reservation in private sector for locals – Explained, pointwise

Knowledge Economy in India

Synopsis: India has lost its leadership in the production of a knowledge economy. But still India maintaining leaderships in few sectors like space, pharma and information technology. India as Knowledge economy Background The global success of the Indian Space Research Organisation (ISRO) and the pharmaceutical industry signifies the diplomatic potential of India’s Knowledge Economy(production of… Continue reading Knowledge Economy in India

PM Modi’s Acknowledgement of role of private sector

Synopsis: Future growth in India should be led by the private sector. The government should encourage the private sector as a central part of its strategy. Introduction Recently the prime minister acknowledged the role of the private sector. Now it is up to the private sector to grow their business, pursue excellence, follow the law… Continue reading PM Modi’s Acknowledgement of role of private sector

“PLI Scheme for pharmaceuticals and IT hardware” Approved

What is the News? Union Cabinet has approved the Production Linked Incentive(PLI) Scheme for the pharmaceuticals and IT hardware sectors. About PLI Scheme for Pharmaceutical Sector: Objective: It will promote the manufacturing of high-value products in the pharmaceutical sector. Duration: The duration of the scheme will be for nine years from 2020-21 till 2028-29. Category… Continue reading “PLI Scheme for pharmaceuticals and IT hardware” Approved

Production Linked Incentive (PLI) scheme

What is the News? The Union Cabinet has approved the production-linked incentive(PLI) scheme for the telecom sector. About the production-linked incentive(PLI) scheme for the telecom Sector Aim of the scheme: It will make India a global hub for manufacturing telecom equipment. Moreover, it will create jobs and reduce imports especially from China. Focus of the… Continue reading Production Linked Incentive (PLI) scheme

Causes of accidents in firework industry

Synopsis: Labour reforms and technological advances within the fireworks industry is the need of the hour to minimise the causes of accidents in the firework industry. Introduction  Thousands of workers in Tamil Nadu’s famed fireworks’ industry are working in unsafe conditions. It resulted in a series of accidents. Such as 20 workers died and 28… Continue reading Causes of accidents in firework industry

NITI Aayog study to track “Economic Impact of Green Verdicts”

What is the News? NITI Aayog has commissioned a study to examine the unintended economic consequences of judicial decisions that have hindered and stalled projects on environmental grounds. About the study Responsible body: The study is to be undertaken by Jaipur-headquartered CUTS (Consumer Unity and Trust Society) Centre for Competition, Investment, and Economic Regulation. It… Continue reading NITI Aayog study to track “Economic Impact of Green Verdicts”

New Farm Laws and Labour Codes is the way forward

Source: The Indian Express Syllabus: GS-3  Issues related to direct and indirect farm subsidies and Issues related to direct and indirect farm subsidies  Synopsis: The agriculture and labour reforms passed recently creates a condition for productivity and enhance growth. This benefits millions of small farmers and unorganised workers. Farm Laws and the changes it brings: … Continue reading New Farm Laws and Labour Codes is the way forward

What is “Make in India Initiative 2.0”?

What is the News? The Minister of Commerce and Industry has informed Lok Sabha about the Make in India Initiative 2.0. Make in India Initiative: Launched Year: It was launched in 2014 by the Government of India. Aim: To make India a global hub for the manufacturing, research and innovation. Also, the integrations of India… Continue reading What is “Make in India Initiative 2.0”?

What is “One District One Product Scheme”?

What is the News? The Ministry of Commerce and Industry has informed Lok Sabha about the One District One Product Scheme.  One District One Product Scheme(ODOP): Aim: To identify one product per district based on the potential and strength of a district and national priorities. A cluster for that product will be developed in the… Continue reading What is “One District One Product Scheme”?

Government launches “Portal to collect data on gig workers”

What is the News? The Finance Minister has announced the launch of a portal to collect data on gig, building, and construction workers. About the Portal: The portal aims to collect relevant information on gig and platform workers along with building, construction and other such workers. The information collected will help in formulating health, housing,… Continue reading Government launches “Portal to collect data on gig workers”

 Indian cricket team’s success can be a model for country’s manufacturing sector

 Source: Indian express Gs3: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Synopsis: The good practices behind the success of Cricketing standards can be used in the Indian manufacturing sector. It will make Manufacturing in India more competitive Background India achieved a remarkable victory in Australia recently. It is… Continue reading  Indian cricket team’s success can be a model for country’s manufacturing sector

4th edition of “Future Investment Initiative” Forum

Why in News? The Union Minister for Health and Family Welfare has addressed the 4th edition of the Future Investment Initiative(FII) Forum. Facts: Future Investment Initiative(FII): It is an annual investment forum held in Riyadh, Saudi Arabia. The Forum discusses trends in the world economy and investment environment. Hosted by:  Public Investment Fund of Saudi… Continue reading 4th edition of “Future Investment Initiative” Forum

Decriminalisation of offences under LLP Act

Why in News? The Company Law Committee has recommended decriminalizing 12 offences under the Limited Liability Partnership(LLP) Act. It has also said that LLPs should be allowed to issue non-convertible debentures(NCDs) to raise funds. It will help them in improving the ease of doing business for LLP firms. Facts: Limited Liability Partnership(LLP): It is an… Continue reading Decriminalisation of offences under LLP Act

SC ruling on Section 32A of IBC

Section 32A was introduced in the IBC by the amendment act of March, 2020.   By this section, government provided protection to successful bidders during corporate insolvency resolution process (CIRP). These bidders offer reasonable and fair value for the corporate debtor.     Why this Provision was introduced?  Since the implementation of IBC in 2016, insolvency resolution plan… Continue reading SC ruling on Section 32A of IBC

 National Startup Advisory Council 

Why in News?  The Government of India has nominated 28 non-official members on the National Startup Advisory Council.   About National Startup Advisory Council:  National Startup Advisory Council: It was constituted by the Department for Promotion of Industry and Internal Trade (DPIIT) in January, 2020.  Objective: This is to advise the Government on measures needed to build a strong startup ecosystem. The… Continue reading  National Startup Advisory Council 

Startup India Seed Fund 

Why in News?  Rs 1,000-crore ‘Startup India Seed Fund’ was launched during the ‘Prarambh: Startup India International Summit’.   Salient features of Startup India Seed Fund Scheme:  Objective: Fund has been set up to provide initial capital to the startups. After that start-ups will be provided with the Govt. Guarantees, to help them raise debt capital.  Coverage: The fund would offer financial assistance to startups for… Continue reading Startup India Seed Fund 

Union Minister inaugurates the ‘Prarambh: Startup India International Summit’

News: Union Minister of Commerce has inaugurated the ‘Prarambh: Startup India International Summit’. Facts: Prarambh: Startup India International Summit: The summit has been organized by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry. The summit is organized as a follow-up to the announcement made by the Indian Prime Minister at the… Continue reading Union Minister inaugurates the ‘Prarambh: Startup India International Summit’

1,600 new tech start-ups and 12 unicorns in 2020: Nasscom’s Indian Tech Start-up Ecosystem report

News: National Association of Software and Services Companies (Nasscom) has released the annual start-up report ‘Indian Tech Start-up Ecosystem – On the March to Trillion Dollar Digital Economy’. Facts: Key Takeaways from the Report: Source: NASSCOM Report India has added 1,600 new tech start-ups and a record 12 unicorns in 2020 (the highest ever added in… Continue reading 1,600 new tech start-ups and 12 unicorns in 2020: Nasscom’s Indian Tech Start-up Ecosystem report

Government approves new scheme for Industrial Development of Jammu & Kashmir

News: Cabinet Committee on Economic Affairs has approved the Central Sector Scheme for Industrial Development of Jammu & Kashmir. Facts: Aim: To develop development of Manufacturing as well as Service Sector Units in J&K which will generate employment and leads to the socio economic development of the area. Incentives: The following incentives would be available… Continue reading Government approves new scheme for Industrial Development of Jammu & Kashmir

Government launched virtual toy hackathon ‘Toycathon 2021’

News: Union Education Minister and Union Minister for Textiles and Women & Child Development jointly launched the Toycathon 2021. Facts: Toycathon 2021: It’s a kind of hackathon for the toy industry. It has been organized by the Ministry of Education, Ministry of Women and Child Development (MWCD), Ministry of Textile, Ministry of Commerce and Industries,… Continue reading Government launched virtual toy hackathon ‘Toycathon 2021’

National Startup Awards 2021

Source: DPIIT News: Department for Promotion of Industry and Internal Trade(DPIIT) has invited applications for the National Startup Awards(NSA) 2021. Facts: National Startup Awards: It was set up by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry. Aim: To recognize and reward outstanding Startups and ecosystem enablers that are building… Continue reading National Startup Awards 2021

The Wistron Dispute and China’s lessons.

Synopsis: Wistron case shows that hasty labour laws violating labour rights is economically suicidal and damaging to India.  Background  Recently, contract workers attacked the Wistron’s iPhone assembly that resulted in property damage of worth ₹50 crore.  According to a preliminary inquiry report by the State labour department into the incident Wistron and its labour contractors violated… Continue reading The Wistron Dispute and China’s lessons.

Prime Minister Formalisation of Micro food processing Enterprises (PM-FME) Scheme

Source: PIB News: Tribal Cooperative Marketing Federation of India(TRIFED) has signed an MoU with Ministry of Food Processing Industries(MOFPI) For Upliftment of Tribal Lives Through the Implementation of PM-FME Scheme.  Facts:  PM-FME Scheme: It is a centrally sponsored scheme launched by the Ministry of Food Processing Industries(MOFPI).  What is the aim of PM-FME scheme?  To modernize and… Continue reading Prime Minister Formalisation of Micro food processing Enterprises (PM-FME) Scheme

Why violence happened at Wistron-Apple Facility?

Wistron Violence and issue of contract workers Synopsis: The recent case of violence at Wistron’s iPhone manufacturing plant also highlights the challenges faced by contract workers in India. Why Wistron Violence happened? Recently, Wistron’s iPhone manufacturing plant was attacked by thousands of contract workers over alleged non-payment of wages, resulting in theft and loss of goods… Continue reading Why violence happened at Wistron-Apple Facility?

100% FDI in DTH service

Source: The Hindu News: Union Cabinet has approved revised guidelines for Direct-to-Home (DTH) broadcasting services. Facts: Direct to Home(DTH): It enables a broadcasting company to directly beam the signal to your TV set through a receiver that is installed in the house.There is no need for a separate cable connection. Advantages of DTH: One can do away… Continue reading 100% FDI in DTH service

Why antitrust lawsuits are being filed repeatedly against tech giants like Facebook?

The issue of anti-competitive practices by Tech giants has come into the light again as recently, an antitrust lawsuit was filed by the Federal Trade Commission (FTC) and governments of 48 US states against the tech giant Facebook, accusing it of crushing smaller competitors by abusing its dominant market position. Specific instances of acquisitions of… Continue reading Why antitrust lawsuits are being filed repeatedly against tech giants like Facebook?