What does P stands for in the term DPIIT?

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MP Police Constable 2023 Official Paper (Held On: 01 Sept, 2023 Shift 1)
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  1. Product
  2. Place
  3. Promotion
  4. Price

Answer (Detailed Solution Below)

Option 3 : Promotion
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Detailed Solution

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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.
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