DIPP Secy authorised to issue licences to pvt players for mfg defence items
The Dollar Business Bureau A gazette notification issued by India’s Home Ministry on Saturday, says that the Secretary in the Department of Industrial Policy and Promotion (DIPP) can now issue licences to private players for manufacturing defence items. Private sector players can now apply to the commerce ministry for licences to take up the manufacture of tanks, fighter planes, warships and other defence equipment. This is a step the government feels will promote ease of doing business and give impetus to the 'Make In India' initiative. However, the licences will be issued only after the Home Ministry supervises the contenders to the license. The power of issuing licences was exclusively with the home ministry earlier. The decision has been taken ...
India-Pak informal trade is above $5 bn: ASSOCHAM
The Dollar Business Bureau The informal trade between India and Pakistan is projected to be more than $5 billion, nearly double the official bilateral trade between the two neighbours having a history of chequered relations, said a study by ASSOCHAM. The paper by ASSOCHAM on “India-Pakistan Trade” is based on well-studied documents and reports by more than top 50 think tanks and research firms, including Indian Council for Research on International Economic Relations (ICRIER), yearly reports of the Ministry of Home Affairs, Institute of South Asian Studies-National University of Singapore, Lahore Journal of Economics, among others. “Traders/Smugglers mainly carry out the informal trade between Pakistan and India through the exchange of goods at the Indo-Pakistan borders as well as ...
MHA gave security clearance to twice as many industrial projects
Source: PTI To give impetus to Make In India initiative, Home Ministry gave security clearance to more than twice the number of fresh investment proposals in 2015 compared to previous year after conducting national risk assessment. As many as 1,744 industrial projects were given security clearance in 2015. In comparison, 815 investment proposals were cleared in 2014 and 712 proposals in 2013, a Home Ministry official said. The huge jump in investment proposals getting the nod came after the Home Ministry issued policy guidelines for assessment of proposals for national security clearance on July 1, 2015. "The aim is to ensure an objective balance between the requirements of national security and the imperatives of rapid economic growth," the official said. The ...
