Industry ( INDIA 2018 )
Index of Industrial Production (IIP) is a measure of industrial performance which is compiled and released every month by Central Statistics Office (CSO).
CSO revised the base year of IIP in May, 2017 from 2004-05 to 2011-12. The latest series with base year 2011-12 is more representative of the current structure of the industrial sector.
IIP comprises 3 sectors : mining, manufacturing and electricity.
In line with the base year change in IIP, Department of Industrial Policy and Promotion, revised the base year of index of eight core industries from 2004-05 to 2011-12.
The industries included in the ICI roughly comprise 40 per cent weight in the IIP, although there is no one to one relationship of the item basket in ICI with the item basket in IIP.
In line with the base year change in IIP, Department of Industrial Policy and Promotion, revised the base year of index of eight core industries from 2004-05 to 2011-12.
The Delhi Mumbai Industrial Corridor (DMIC) project is being developed on both sides of the Western Dedicated Freight Corridor (WDFC) as a global manufacturing and investment destination.
National Manufacturing Policy (NMP) was notified in 2011 with the objective of enhancing the share of manufacturing in GDP to 25 per cent and creating 100 million jobs within a decade or so.
One of the instruments of this policy is : national investment and manufacturing zones (NIMZs). The NIMZs would be different from SEZs in terms of size; level of infrastructure planning; governance structures related to regulatory procedures; exit policies; fiscal incentives, etc.
Government has now introduced composite cap of foreign investment. Sectoral cap i.e., the maximum amount which can be invested by foreign investors in an entity, unless provided otherwise, is composite and includes all types of foreign investments, direct and indirect, regardless of whether the said investments have been made under Schedul Foreign Direct Investment, Foreign Institutional Investor, Foreign Portfolio Investment, Non Resident Indian, etc.
The government has established “Invest India” as the National Investment Promotion and Facilitation Agency, as a joint venture between the Department of Industrial Policy and Promotion (DIPP), state governments and the Federation of Indian Chamber of Commerce and Industry (FICCI).
The Indian IP system maintains a fine balance between private rights through IPRs on one hand, and rights of the society as public interest on the other hand. TRIPS Agreement has allowed policy space to countries to evolve a regime that best suits its condition.
India is a party to Doha Declaration on the TRIPS Agreement and Public Health which clarifies that TRIPS agreement does not and should not prevent members from taking measures to protect public health.
India was the first country to ratify the Marrakesh Treaty which facilitates access to published works by visually impaired persons and persons with print disabilities.
India’s patent regime prevents ‘ever greening’ and makes affordable generics possible – Millions of people around the world rely on affordable medicines made in India, making ‘India the pharmacy of the world’.
CIPAM is created to address the 7 identified objectives of the policy. It is a professional body under the aegis of DIPP to ensure focused action on issues related to IPRs.
Wholesale Price Index (WPI) measures the average change in the prices of commodities for bulk sale at the level of early stage of transactions. The index basket of the WPI covers commodities falling under the three major groups namely primary articles, fuel and power and manufactured products.
WPI basket does not cover services.
In the revised WPI basket, the number of items has been increased from 676 to 697.
Few definition of wholesale price index does not include taxes in order to remove impact of fiscal policy. This also brings new WPI series closer to Producer Price Index and is in consonance with the global practices.
In the revised WPI basket the weight of primary articles group has increased from 20.1 per cent to 22.6 per cent, whereas the weight of fuel and power group has declined from 14.9 per cent to 13.2 per cent. The weight of manufactured products has declined marginally from 64.9 per cent to 64.2 per cent.
India is the largest producer of cotton and jute and second largest producer of silk and man-made fibre.
The contribution of MSMEs in GDP is 33 per cent in manufacturing sector and 45 per cent in exports.
As of now, the country has achieved 80 per cent self-sufficiency in production capacity of Urea. As a result, India could manage its substantial requirement of nitrogenous fertilizers through the indigenous industry besides imports.
Similarly, 50 per cent indigenous capacity has developed in respect of phosphatic fertilizers to meet domestic requirements. However, the raw-materials and intermediates for the same are largely imported. For potash (K). since there are no viable sources/reserves in the country, its entire requirement is met through imports.
The Jan Aushadhi Scheme was launched in 2008 with the aim of selling affordable generic medicines through dedicated sales outlets i.e. Jan Aushadhi Stores in various districts across the country. The first Jan Aushadhi Store was opened at Amritsar in Punjab.
Ministry of Mines is responsible for survey and exploration of all minerals, other than natural gas, petroleum and atomic minerals.
Odisha alone accounts for 51 per cent of country’s resources of bauxite.
Rajasthan is credited with 54 per cent of copper.
Largest resources of gold ore are located in Bihar.
Hematite and magnetite are the most important iron ores in India. About 59 per cent hematite ore deposits are found in the eastern sector. About 92 per cent magnetite ore deposits occur in southern sector, especially in Karnataka. Of these, hematite is considered to be superior because of its higher grade.
