cpc

Know your Ministry - No. 7 - Commerce and Industry

Ministry of Commerce and Industry headed by an educated and professionally efficient Cabinet rank Minister assisted by two Ministers of State has set up a long-term vision to make India a major player in the world trade and assume a role of leadership in the international trade organizations commensurate with India’s growing importance.

The core functions of the Department of Commerce includes formulation, implementation and supervision of the Foreign Trade Policy (FTP) and provides the basic framework of policy and strategy to be followed for promoting exports and trade. The Trade Policy is periodically reviewed to incorporate changes necessary to take care of emerging economic scenarios both in the domestic and international economy. It is also entrusted with responsibilities relating to multilateral and bilateral commercial relations, Special Economic Zones, state trading, export promotion and trade facilitation, and development and regulation of certain export oriented industries and commodities

The Department is functionally organized into 10 Divisions Viz,: International Trade Policy Divisions, Foreign Trade Territorial Division, Export Products Division, Export Industries Division, Export Services Division, Economic Division, Administration & General Service Division, Finance Division, Supply Division and Logistics Division.

Subordinate Offices attached to the Ministry are Director General of Foreign Trade (DGFT), Director General of Trade Remedies (DGTR), Director General of Commercial Intelligence and Statistics, Kolkata, Special Economic Zones (SEZ) and Pay and Accounts Office (Supply, Commerce & Textiles).

Statutory Autonomous Bodies under the Ministry are Marine Products Exports and Development Authority (MPEDA), Agricultural and Processed Food Products Exports and Development Authority (APFPEDA), Commodities Board, Exports Inspection Council (EIC), Indian Institute of Foreign Trade (IIFT), Indian Institute of Packaging (IIP) and Indian Institute of Plantation Management (IIPM).

Public Sector Undertakings under the domain of the Ministry are State Trading Corporation of India Limited (STC), Minerals and Metal Trading Corporation Limited (MMTC, Project and Equipment Corporation Limited (PEC),Export Credit Guarantee Corporation of India Limited (ECGC), India Trade Promotion Organization (ITPO).

Export Promotion Councils (EPC) function under the administrative control of the Department of Commerce. These Councils are registered as non-profit organizations under the Companies Act/ Societies Registration Act and perform both advisory and executive functions. The role and functions of these Councils are guided by the Foreign Trade Policy, 2009-14 and acts as the  the registering authorities for exporters under the Foreign Trade Policy 2009-14. EPCs are  Engineering Export Promotion Council of India (EEPC),Project Export Promotion Council for EOUs & SEZs (PEPC), Basic Chemicals, Cosmetics and Dye Export Promotion Council (Chemexcil), Chemicals and Allied Products Export Promotion Council (CAPE),Council for Leather Exports, Sports Goods Export Promotion Council, Gem and Jewellery Export Promotion Council, Shellac Export Promotion Council, Cashew Export Promotion Council of India, The Plastics Export Promotion Council, Pharmaceutical Export Promotion Council, Indian Oil Seeds and Produce Export Promotion Council(IOPEPC) and Services Export Promotion Council(SEPC).

Other Organizations under the Ministry include Federation of Indian Export Organizations, Indian Diamond Institute, Footwear Design and Development Institute (FDDI), National Centre for Trade Information, Indian Brand Equity Foundation and Price Stabilization Fund Trust

Trade Promotions activities of the Ministry relate to Special Economic Zones (SEZ), Trade Promotion Assistance (TPA) and Foreign Trade Policy and Procedure (FTPP).

Links for International Trade matters under the domain of the Ministry includes EU GSP Scheme for Self-Certification, India and World Trade Organization (WTO), Trade Agreements, TBT and SPS Portals, Sixth Trade Policy Review of India, FAQs on FTAs Engineering Sector, Joint Statements and Minutes of the Meetings, India Trade Portal of SAARC, ASEAN and top 25 Countries, FAQs on FTAs and Trade Promotion Programmes and Schemes,

Acts, Schemes, Regulations and Notifications related to the Ministry are attached for reference,

Trade Statistics are published in respect of India’s trade, Export Import Data Bank (Annual), Export Import Data Bank (Monthly) and Foreign Trade Performance Analysis (FTPA).

PUBLICATION & REPORTS

  1. Indian Organic Sector Vision 2025
  2. 2016-17 Analysis of India with South Asian Countries
  3. Indian National Strategy for Standardization Evolving a Quality Eco-System (INSS)
  4. Report of the High-Level Advisory Group
  5. Peru Joint Study Group (JSG) Report
  6. India-ASEAN FTA Outreach Programme booklet (FIEO)
  7. PDFF Opportunities for India in Trade and Investment in CLMV Countries (EXIM Bank)
  8. Enhancing India-Myanmar Border Trade
  9. Statement of Activities for 2018-19
  10. Annual Report 2016-17, 2018-19 and 2019-20.
  11. Report of the Task Group for the Diamond Sector
  12. Progress of the Mai Project on Medicinal and Aromatic Plants by BIFT
  13. Final Report on Conference of Commercial Representatives of India based in select WANA countries
  14. Report on Conference of Head of Indian Missions/commercial Representatives in Sub=Saharan African Countries
  15. Report of the India Russia Joint Study Group
  16. Report of the Task Force on Pharmaceuticals
  17. India and Australasia Joint Free Trade Agreement feasibility Study
  18. Guidelines issued by PESB ACC for Board Level Appointments in CYPES Appointment of a Nodal Officer in the Department of Commerce. .
  19. Budget, Logistics and Links for Public References.

CHALLENGES FOR THE MINISTRY

  1. To Identify suitable strategy and policy initiatives for key sectors and commodities that enables conversion of the economy into a world class manufacturing hub using indigenous raw materials and manpower resources.
  2. To scientifically evaluate and balance the country’s Import and Exports that depletes the foreign exchange reserves.
  3. Improper and unscientific classification of essential commodities that paves way to unpredicted crisis under Demand and Supply chains.
  4. Transportation and storage facilities available for our agriculture produces and unregulated activities of middlemen dealing the commodities for trade and commerce.
  5. Trade related disputes pending before commercial courts that hampers the economic activities.

WAY FORWARD

  1. Time to identify all the key sectors and commodities to make country into a world class and strong manufacturing hub.
  2. Explore and Manage all untapped sectors to suit to the new needs and demands during the post COVID19 competition.
  3. Tapping both the skilled and unskilled manpower resources to plug the unemployment gaps haunting the growth and development of GDP so as to ensure maximization of available resources.
  4. Smartly work out trade related negotiations with neighboring countries identifying their needs to boost exports and ensure availability of all essential commodities.
  5. To formulate a comprehensive legislation to adjudicate all Trade and Commerce related disputes.

 

Tags :
Published in Students
Views : 159









×

Menu

IPC Grand Course     |    x