Govt Plans E-Commerce, FDI, Startup Boost

A meeting helmed by Union Commerce and Industry Minister Piyush Goyal with officials from the Department of Commerce and the Department for Promotion of Industry and Internal Trade (DPIIT) witnessed several proposals on what the ministry described as a part of a "100 days" agenda of transformation to take India on a fast track to a developed nation.

Addressing an event virtually, the minister said the move aims to reduce compliance and regulatory overburden to propel the domestic industry.

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Sources told CNBC-TV18

that the issues and proposals discussed in the meeting include facilitation of a cross-border e-commerce export hub, ease of Foreign Direct Investment (FDI) in key and technical sectors from neighbouring countries, ease in tax burden for startups and relief for the leather and footwear industry in obtaining environmental nod.

Proposals also included the connection of the lab info management system with the trade e-Connect portal, strengthening of skills via industry-driven training, and an increase in the validity of registration for tobacco traders to a period of three years from one year currently.

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