What does P stands for in the term DPIIT?

The correct answer is Promotion.

Key Points

• DPIIT stands for the Department for Promotion of Industry and Internal Trade.
• The term "Promotion" in DPIIT refers to the role of the department in promoting industrial growth, trade, and investment in India.
• DPIIT operates under the Ministry of Commerce and Industry, Government of India, and was renamed from the Department of Industrial Policy & Promotion (DIPP) in January 2019.
• The department is responsible for framing policies to enhance foreign direct investment (FDI), ease of doing business, and industrial development across sectors.
• DPIIT also plays a critical role in promoting the "Make in India" initiative to boost manufacturing and attract global investments.

Additional Information

• Make in India Initiative
  • Launched by PM Narendra Modi in 2014, this initiative aims to transform India into a global manufacturing hub.
  • It focuses on 25 sectors, including automobiles, textiles, IT, pharmaceuticals, and electronics.
  • The program emphasizes improving ease of doing business and attracting foreign investments.
• Ease of Doing Business Rankings
  • DPIIT oversees India's performance in the World Bank’s Ease of Doing Business Index.
  • India improved its rank from 142 in 2014 to 63 in 2019 due to reforms initiated by DPIIT.
• Startup India Initiative
  • DPIIT launched this initiative in 2016 to foster innovation and entrepreneurship.
  • Startups registered under DPIIT enjoy benefits such as tax exemptions, funding support, and simplified compliance.
• Foreign Direct Investment (FDI) Policy
  • DPIIT regulates FDI policies to attract global investments and improve India's industrial landscape.
  • In recent years, India has witnessed significant growth in FDI inflows, particularly in sectors like automobiles, electronics, and retail.