• The government has notified changing the name of the Department of Industrial Policy & Promotion (DIPP) to the Department for Promotion of Industry and Internal Trade, and has enhanced its role.
• The notification has also included four new categories of responsibilities the renamed body will be in charge of, including the promotion of internal trade (including retail trade).
• The welfare of traders and their employees, matters relating to facilitating Ease of Doing Business, and matters relating to start-ups.
• DIPP was established in the year 1995, and was reconstituted in the year 2000 with the merger of Department of Industrial Development.
• The department functions under the Ministry of Commerce and Industry.
• It is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives.
• While individual Administrative Ministries look after the production, distribution, development and planning aspects of specific industries allocated to them, DIPP is responsible for the overall industrial policy.
• It is also responsible for facilitating and increasing the foreign direct investment (FDI) flows to the country.
• It is currently working to frame a new industrial policy, to be the third such policy in India since its independence in 1947.
Four new responsibilities added
• The notification has also included four new categories of responsibilities the renamed body will be in charge of, including:
• Promotion of internal trade (including retail trade)
• Welfare of traders and their employees
• Matters relating to facilitating Ease of Doing Business
• Matters relating to start-ups
Mains Paper 2: Indian Polity | Statutory, regulatory and various quasi-judicial bodies
Prelims level: DPIIT
Mains level: Mandate of the restructured DPIIT