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Industrial Policy
Commerce and Industry Minister Piyush Goyal would chair a meeting of state industry ministers on September 5 to discuss ways to promote industrial growth of the country, an official said. As industry is a state subject, they are key stakeholders in promoting the sector, the official said. "Issues like ways to promote manufacturing, promotion of industries and state issues may come up for deliberations on September 5 here," the official added. The Centre is already taking a number of measures in this direction and that includes reducing compliance burden, promoting ease of doing business and setting up of industrial townships. Recently, the Government of India approved 12 new industrial cities in 10 states on the lines of Greater Noida in Uttar Pradesh and Dholera in Gujarat to boost domestic manufacturing with an estimated investment of Rs 28,602 crore. These industrial areas will be in Khurpia in Uttarakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerala, Ag
Armed with a new promoter on board, the diversified conglomerate Kothari Industrial Corporation Ltd has drawn up aggressive expansion plans across various segments, a top official said. The company would focus on footwear, fertilisers, food, drone technology, synthetic textiles, solar in the coming years, creating huge job opportunities, Vice- Chairman and Managing Director J Rafiq Ahmed said here. Detailing his vision plan for the city based group at an interaction, Ahmed who became the Vice Chairman and Managing Director in 2018, said he became an investor in 2014 after being into the steel business. Ahmed currently has a 47.08 per cent stake in the entity. After the completion of the open offer on equity shares, his holding in the group could go up to 73.07 per cent. After getting delisted from the stock exchanges in 2000, the company got relisted recently. Elaborating about the plans for the company, Ahmed said, "We are going to grow very aggressively. The old glory that Kotha
Puducherry Industries Minister A Namassivayam told the territorial Assembly on Friday that a new industrial policy would be unveiled soon for the development of industries in the union territory and to generate job opportunities for the youth. Replying to a question tabled by V P Ramalingam (nominated legislator), the minister said that those coming forward to set up industrial enterprises in the union territory were seeking several concessions which related to GST and Income Tax. The government would have to consider these pleas. "Our intention is to encourage industries to come up in Puducherry so that jobs can be created for the educated youth," he said, and added that all aspects were being considered to ensure industrial development in the union territory. Namassivayam said that the government also proposed establishing an Information Technology park. On the number of industries established since the present government assumed office in 2021, he said that 189 industries have c
The country will have 12 new industrial cities in different states like the ones developed in Greater Noida, Uttar Pradesh and Dholera in Gujarat to further boost domestic manufacturing, a top government official said. Out of this, two are coming up in Andhra Pradesh and one in Bihar. The Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said that eight such cities are already under different stages of implementation. Trunk infrastructure has been created in four cities - Dholera (Gujarat), Auric (Maharashtra), Vikram Udyogpuri (Madhya Pradesh) and Krishnapatnam (Andhra Pradesh) and allotment of land plots is underway for the industry. Similarly in the other four, the government's special purpose vehicle is in the process of construction of the basic infrastructure like road connectivity, water and power supply. With eight already under the development stage and the announcement of 12 new in the Budget, the total count of these cities in
The country will have 12 new industrial cities in different states like the ones developed in Greater Noida, Uttar Pradesh and Dholera in Gujarat to further boost domestic manufacturing, a top government official said. Out of this, two are coming up in Andhra Pradesh and one in Bihar. The Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said that eight such cities are already under different stages of implementation. Trunk infrastructure has been created in four cities - Dholera, Auric (Maharashtra), Vikram Udyogpuri (Madhya Pradesh) and Krishnapatnam (Andhra Pradesh) and allotment of land plots is underway for the industry. Similarly in the other four, the government's special purpose vehicle is in the process of construction of the basic infrastructure like road connectivity, water and power supply. With eight already under the development stage and the announcement of 12 new in the Budget, the total count of these cities in the countr
Arunachal Pradesh will soon constitute a committee to draft a new industrial policy aimed at attracting investments to the state, Industries Minister Nyato Dukam said. The minister made the announcement during a review meeting with senior officers of the Industries, IPR and Printing, Trade and Commerce, Skill Development and Entrepreneurship, Labour and Employment, Textile and Handicrafts, and Sericulture departments on Tuesday. Dukam said inputs will be taken from stakeholders to ensure the policy fully realises the state's industrial potential while maintaining investor-friendly measures. He also called for robust coordination among departments to explore and capitalise on opportunities that will enhance the dynamism and success of these departments. During the meeting, officials from each department made presentations, detailing various challenges, opportunities, and strategies moving forward.
China's industrial manufacturing overcapacity has significant spillovers around the world, the Joe Biden administration said on Wednesday, noting that addressing these challenges may warrant taking defensive action to protect firms and workers -- and the traditional toolkit of trade actions may not be sufficient. "We are growing concerned that China's enduring macroeconomic imbalances and non-market policies and practices pose a significant risk to workers and businesses in the United States and the rest of the world. We are worried that these features of China's economy can lead to industrial overcapacity that has significant spillovers around the world and can compromise our collective supply chain resilience, given the resulting over-concentration in some manufacturing sectors," Under Secretary for International Affairs Jay Shambaugh said. The United States, along with its allies and partners in developing economies and advanced economies alike, share mutual objectives to address