Standard Owner Benchmark - THE MINISTRIES OF INDUSTRIES AND COMMERCE, GOVERNMENT OF INDIA

The Ministry of Industries and Ministry of Commerce and Industry in India were two separate ministries until they were merged on 27th July 2021 by the Government of India.

The Ministry of Industries was established on 2nd September 1948 as the Department of Industries and Supplies, which was later renamed as the Ministry of Industries. The Ministry of Commerce and Industry was established on 2nd September 1946.

After the merger, the new ministry is now called the Ministry of Commerce and Industry, and it is responsible for formulating and implementing policies and programs for the development and promotion of India's trade, commerce, and industry.

The Ministry of Commerce and Industry is a department of the Government of India responsible for promoting and regulating trade, commerce, and investment in the country. The ministry is headed by the Minister of Commerce and Industry, currently Piyush Goyal, and has two separate wings: the Department of Commerce and the Department for Promotion of Industry and Internal Trade (DPIIT).

The Department of Commerce is responsible for formulating and implementing policies related to India's external trade and commerce, including export promotion, import regulation, trade agreements, and trade-related infrastructure development. It also administers several export promotion schemes, such as the Merchandise Exports from India Scheme (MEIS) and the Services Exports from India Scheme (SEIS).

The DPIIT is responsible for promoting domestic industries and trade in India, with a focus on increasing competitiveness and productivity. It is responsible for policy formulation and implementation related to industrial development, intellectual property rights, investment promotion, and internal trade. The DPIIT also administers several incentive schemes for promoting investment in specific sectors, such as the Make in India program.

The Ministry of Commerce and Industry also works closely with other government agencies, industry associations, and international organizations to promote trade and investment in India. It plays a critical role in shaping India's economic policies and ensuring that the country remains a competitive destination for business and investment.

In addition, the Ministry is headed by a Minister, who is appointed by the Prime Minister of India and is responsible for the overall functioning of the department. The Ministry also has several subordinate departments and agencies, each with its own set of responsibilities and functions.

The Ministry of Industries and Commerce is supported by a team of civil servants, including secretaries, joint secretaries, and other administrative staff, who are responsible for implementing policies and programs as directed by the Minister and the government.