Authorised Economic Operator (AEO) Programme
AEO is a programme under the aegis of the World Customs Organization (WCO) SAFE Framework of Standards to secure and facilitate Global Trade. The programme aims to enhance international supply chain security and facilitate movement of legitimate goods. Under this programme, an entity engaged in international trade is approved by Customs as compliant with supply […]
New PLIs on Card – Footwear & Bicycle
Government of India is set to roll out 2 new PLI Schemes i.e. Footwear and Bicycle to promote manufacturing in India. These will be the part of fresh set of PLI Schemes after the initial 13 PLIs being announced by the Government in 2020 post COVID-19 Lockdown to make China Plus 1 Strategy. Footwear PLI […]
Innovation in Pharma & MedTech
Scheme for Promotion of Research and Innovation in Pharma MedTech Sector (PRIP) Objectives of the Scheme :- Transform Indian Pharma MedTech sector. Move from cost based to innovation-based growth. Strengthen the research infrastructure in the country. Promote industry-academia linkage for R&D in priority areas. Inculcate the culture of quality research and nurture our pool of […]
Green Hydrogen Electrolysers Incentives
Incentives for Green Hydrogen Electrolysers The Govt. of India on 28th June 2023 – Ministry of New and Renewable Energy (MNRE – Hydrogen Division) announced scheme guidelines under National Green Hydrogen Mission for “Incentives for Electrolyser Manufacturing”. The scheme is covered under “Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme – Component I with […]
#IndiaNITI (April to June)
#indiaNiti is a Policy Update Newsletter covering various policy Initiatives of Indian Government. We have covered following initiatives in this publication:- – Indian Space Policy 2023 – National Medical Device Policy 2023 – Exploration of Coal & Lignite Scheme – Sangathan Se Samriddhi Scheme – 250GW Renewable Energy – Animal Pandemic Preparedness Initiative – Revised domestic Gas […]
IT Hardware PLI 2.0
Indian Government has launched again a PLI Scheme to incentivize manufacturing of consumer electronics in the country. Salient features of the scheme are as follows:- Total Budgetary Outlay – Rs. 17,000 crore. Tenure – 6 years Target Segments – Laptops, tablets, all-in-one PCs, servers and ultra small form factor devices. Expected incremental investment is Rs. […]
Kerala Industrial Policy 2023
Kerala Government has recently released a New Industrial Policy 2023 for the state. The policy will apply without any expiry. The Industrial policy is based on the 7 Pillars being the basic objective of the scheme which are as under:- 1. Fostering Entrepreneurship 2. Enabling Infrastructure 3. Transition to Hi-Tech 4. Skill Development 5. Supportive […]
Mandatory Audit of Foreign Subsidiaries of Indian Companies
RBI has through Foreign Exchange Management (Overseas Investment) Regulations, 2022 has amended the regulations governing overseas investment by Indian Companies. The amended regulations inter alia covers the reporting requirements of the Indian Party. As per the Reporting Requirements under the supra mentioned regulations, the Indian company which has made Overseas Direct Investment or making financial commitment […]
Andhra Pradesh releases State Industrial Policy 2023-27
Recently Andhra Pradesh has issued its State Industrial Policy 2023-27 covering the incentives proposed by the state with a mission to build a prosperous state. The policy brings a special incentive for SC/ST Enterpreneur under the YSR Jagananna Badugu Vikasam Scheme. The policy aims for the following:- Economic Growth Port-led development Enhanced Logistical ecosystem Developing […]
SPECS scheme extended by 1 year by MeiTY
MeiTY has recently extended the period for filing new application under Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors by another 1 year. This mean that the companies can now apply for a electronic manufacturing project till 31st March 2024 and the projects will be allowed to be completed by 31st March 2029 […]