Government focusing on multilateral and bilateral commercial relations, trade facilitation, industrial development, investments in new and upcoming technology

Government focusing on multilateral and bilateral commercial relations, trade facilitation, industrial development, investments in new and upcoming technology

Key measures and initiatives to promote exports and enhance market access through Periodic engagement at G-G level with partner countries

Posted On:

09 AUG 2023 7:24PM by PIB Delhi

Sustainable Development Goals (SDGs)

1. No Poverty
2. Zero Hunger
3. Good Health and Well-being
4. Quality Education
5. Gender Equality
6. Clean Water and Sanitation
7. Affordable and Clean Energy
8. Decent Work and Economic Growth
9. Industry, Innovation, and Infrastructure
10. Reduced Inequalities
11. Sustainable Cities and Communities
12. Responsible Consumption and Production
13. Climate Action
14. Life Below Water
15. Life on Land
16. Peace, Justice, and Strong Institutions
17. Partnerships for the Goals

Government initiatives to promote economic growth and investment

• Atmanirbhar packages
• Production Linked Incentive (PLI) Scheme
• National Infrastructure Pipeline (NIP)
• National Monetisation Pipeline (NMP)
• India Industrial Land Bank (IILB)
• Industrial Park Rating System (IPRS)
• National Single Window System (NSWS)
• Project Development Cells (PDCs)

Improving Ease of Doing Business ecosystem

• Coordination with Ministries/Departments and States/UTs for reducing compliance burden
• Dynamic reform exercise called Business Reforms Action Plan (BRAP)

Foreign Direct Investment (FDI) policy

• Investor friendly FDI policy with most sectors open for 100% FDI
• Progressive liberalization and simplification of FDI policy
• Filing of proposals on National Single Window System (NSWS) Portal

Promoting exports and enhancing market access

• Periodic engagement at G-G level with partner countries
• Export promotion events in target markets
• Comprehensive Economic Partnership Agreement (CEPA) with UAE

Make in India initiative

• Launched to facilitate investment and foster innovation
• Focus on 27 sectors under Make in India 2.0

Boosting domestic and foreign investments

• Introduction of Goods and Services Tax
• Reduction in corporate tax
• Improving ease of doing business
• FDI policy reforms
• Measures to boost domestic manufacturing

Startup India initiative

• Launched to nurture innovation and encourage private investments in startups
• Recognition of over 98,000 entities as startups
• Creation of over 10.34 lakh direct jobs

Production Linked Incentive (PLI) Schemes

• Announced for 14 key sectors with an outlay of Rs. 1.97 lakh crore
• Objectives: attract investments, ensure efficiency and economies of scale, make Indian companies globally competitive
• 14 key sectors: Mobile Manufacturing and Specified Electronic Components, Critical Key Starting Materials/ Drug Intermediaries & Active Pharmaceutical Ingredients, Manufacturing of Medical Devices, Automobiles and Auto Components, Pharmaceuticals Drugs, Specialty Steel, Telecom & Networking Products, Electronic/Technology Products, White Goods (ACs and LEDs), Food Products, Textile Products: MMF segment and technical textiles, High efficiency solar PV modules, Advanced Chemistry Cell (ACC) Battery, Drones and Drone Components
• 733 applications approved under all 14 PLI Schemes

This information has been provided by the Union Minister of State for Commerce and Industry, Shri Som Parkash in a written reply in the Lok Sabha today.

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SDGs, Targets, and Indicators Analysis

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 8: Decent Work and Economic Growth
• SDG 9: Industry, Innovation, and Infrastructure
• SDG 10: Reduced Inequalities
• SDG 16: Peace, Justice, and Strong Institutions

The article discusses various initiatives and measures taken by the government to promote economic growth, enhance market access, attract investments, and boost domestic and foreign investments. These issues are directly connected to SDG 8, which focuses on promoting sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. SDG 9 is also addressed as the article highlights initiatives related to industrial development, investments in new technology, and infrastructure development. Additionally, the article indirectly relates to SDG 10 by mentioning measures to reduce compliance burden and promote ease of doing business, which can contribute to reducing inequalities. Lastly, SDG 16 is connected as the article mentions the establishment of institutional mechanisms and project development cells to fast-track investments, which contributes to building strong institutions.

2. What specific targets under those SDGs can be identified based on the article’s content?

• SDG 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation.
• SDG 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation.
• SDG 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being.
• SDG 9.3: Increase the access of small-scale industrial and other enterprises to financial services, including affordable credit.
• SDG 10.2: Empower and promote the social, economic, and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion, or economic or other status.
• SDG 16.6: Develop effective, accountable, and transparent institutions at all levels.

The article’s content aligns with these specific targets under the relevant SDGs. The initiatives mentioned in the article aim to achieve higher economic productivity through technological upgrading and innovation (SDG 8.2). The promotion of development-oriented policies, job creation, entrepreneurship, and innovation also contributes to SDG 8.3. The government’s focus on infrastructure development and access to financial services for small-scale enterprises relates to SDG 9.1 and SDG 9.3, respectively. The measures to reduce compliance burden and improve ease of doing business contribute to SDG 10.2 by promoting social and economic inclusion. Lastly, the establishment of institutional mechanisms and project development cells aligns with SDG 16.6, which aims to develop effective and transparent institutions.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Number of new technologies adopted in industries
• Number of jobs created through government initiatives
• Investment in infrastructure development
• Access to financial services for small-scale enterprises
• Improvement in ease of doing business rankings
• Number of institutional mechanisms and project development cells established

The article does not explicitly mention specific indicators to measure progress towards the identified targets. However, based on the content, some indicators can be inferred. The number of new technologies adopted in industries can be an indicator of progress towards SDG 8.2. The number of jobs created through government initiatives can measure progress towards SDG 8.3. Investment in infrastructure development can be an indicator for SDG 9.1. Access to financial services for small-scale enterprises can be measured to track progress towards SDG 9.3. Improvement in ease of doing business rankings can indicate progress towards SDG 10.2. Lastly, the number of institutional mechanisms and project development cells established can be an indicator for SDG 16.6.

4. Table: SDGs, Targets, and Indicators