Year-End Review 2024
Department for Promotion of Industry and Internal Trade
The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, has spearheaded transformative initiatives in 2024, contributing significantly to India's industrial growth, infrastructure development, and job creation. From record- breaking investments under the PLI scheme to streamlining logistics and enhancing the startup ecosystem, DPIIT has played a pivotal role in fostering India's economic resilience and competitiveness.
Production Linked Incentive (PLI) Scheme
• Investment and Production: The PLI scheme recorded investments worth Rs. 1.46 lakh crore, generating Rs. 12.5 lakh crore in production and Rs. 4 lakh crore in exports.
• Employment Generation: 9.5 lakh jobs were created, directly and indirectly, through over 1,300 manufacturing units established across 14 sectors and 27 States/UTs.
• Incentives Disbursed: Incentives worth Rs. 9,721 crore were disbursed till FY 2023-24.
• Sectors Covered: The 14 sectors include Mobile Manufacturing, Pharmaceuticals, Specialty Steel, Telecom, White Goods, Food Products, Textiles, Solar PV Modules, Advanced Chemistry Cell (ACC) Batteries, Drones, and more.
PM Gati Shakti National Master Plan
• Network Planning Group (NPG): 81 meetings conducted, evaluating 213 projects worth Rs. 15.48 lakh crore.
• Logistics Projects: Over 200 projects valued at Rs. 5,496 crore recommended by States to enhance logistics infrastructure.
• Integrated Planning: 44 Central Ministries/Departments and 36 States/UTs onboarded with over 1,614 data layers integrated into the GIS platform.
National Industrial Corridor Development Programme
• Greenfield Projects: 12 greenfield infrastructure projects worth Rs. 28,602 crore approved, unlocking Rs. 1.5 lakh crore in investment potential and creating 9.4 lakh jobs.
• Industrial Land Development: 2,104 acres of developed industrial land and 2,250 acres of commercial/residential land are ready for allotment, boosting investor confidence.
Intellectual Property Rights (IPR) Achievements
• Patent and Trademark Growth: Patents surged 17- fold and trademarks 7- fold compared to 2014-15.
• Global Innovation Index (GII): India climbed to the 39th position in 2024.
• Awareness and Outreach: Over 1,200 IP awareness programmes were conducted, reaching 5 lakh students and faculties.
Foreign Direct Investment (FDI)
• FDI Inflows: FDI surged by 26% to $ 22.5 billion in Q1 FY 2024-25, compared to $17.8 billion in the previous year.
• Manufacturing Sector: FDI equity inflow in manufacturing rose by 69%, from $ 98 billion (2004-2014) to $165 billion (2014-2024).
Startup India Initiative
• Startup Growth: 1.49 lakh startups created 16 lakh direct jobs.
• Women and Tier-2/3 Startups: 48% of startups have at least one woman director, and 50% operate from tier 2 and 3 cities.
• Global Expansion: Indian startups are increasingly expanding their footprint globally, entering emerging markets and developed economies alike.
• Sector Diversification: Startups span sectors including deep tech, AI, fintech, health tech, agritech, and renewable energy, reflecting a diversified innovation landscape.
• Startup Support Programmes: DPIIT, in collaboration with incubators and accelerators, launched over 100 new programmes to mentor and fund startups, fostering innovation hubs across the country.
• National Startup Awards: 50 startups across various sectors were recognised under the National Startup Awards, encouraging excellence and scalable solutions.
• Startup Ranking of States: The States' Startup Ranking Framework incentivised state governments to strengthen their startup ecosystems, resulting in 31 states/UTs participating actively in 2024.
• Investment and Funding: The Fund of Funds for Startups (FFS) facilitated investments exceeding Rs. 9,500 crore in more than 900 startups, enhancing early-stage funding.
National Logistics Policy (NLP)
• Cost Reduction Goals: Aims to reduce logistics costs to global benchmarks by 2030.
• University Collaboration: Logistics courses introduced in 115 universities.
• Tracking Systems: 37 logistics- related digital systems integrated across 10 Ministries/Departments to ensure seamless cargo movement.
Ease of Doing Business and Compliance Reduction
• Compliance Reduction: 42,028 compliances reduced, and 3,765 provisions decriminalized across various ministries and states.
• National Single Window System (NSWS): 7.1 lakh approvals applied, with 4.81 lakh approvals granted, streamlining investment processes.
• Jan Vishwas Act: Decriminalised 183 provisions across 42 Central Acts to foster 'trust- based governance'.
Open Network for Digital Commerce (ONDC)
• E-commerce Democratisation: ONDC recorded 12.8 million orders in September 2024, totaling 113.4 million since its launch.
• Participants and Reach: 115 network participants onboarded, with 7.01 lakh sellers and service providers active across 1,100 cities.
One District One Product (ODOP)
• Product Promotion: 1,256 products identified from 780 districts to boost local economies.
• PM Ekta Malls: 27 States received funding for ODOP malls, with nine states laying foundation stones.
DPIIT continues to drive economic transformation by enhancing industrial capacity, fostering innovation, and supporting emerging startups. These initiatives align with India's journey towards becoming a global manufacturing powerhouse, contributing to job creation, economic growth, and inclusive development.
(Source: PIB)