Government To Bring Out Strategy Paper On Boosting Industrial Growth: Piyush Goyal

The government is in the process of bringing out a strategy paper on boosting industrial growth which will be a road map for all businesses in the country, Parliament was informed on Wednesday.

In a written reply to the Lok Sabha, Commerce and Industry Minister Piyush Goyal said the government is in the process of rationalising the existing central labour laws into four labour codes -- on wages; industrial relations; occupational safety, health and working conditions; and social security by simplifying, amalgamating and rationalising the relevant provisions of the existing central labour laws.

The Code on Wages has been approved and notified, he added.

"The government is in the process of bringing out a strategy paper on boosting industrial growth which will be a road map for all businesses in the country," he said.

In a separate reply, he said an EFC note on startup India seed fund scheme, with a total proposed corpus of Rs 945 crore, has been formulated by the Department for Promotion of Industry and Internal Trade.

"The EFC note was circulated for inter-ministerial consultations to the concerned departments/ ministries," he said, adding that the note has been finalised.

He also said that since the launch of Startup India initiative on Jan. 16, 2016, a total of 36,106 startups have been recognised by DPIIT in 586 districts, as on Sept. 6.

"A total number of 4,22,986 employment has been reported by 34,267 DPIIT recognised startups as on September 6," he added.

In a separate reply, the minister said India's exports of PPE Kits, masks, sanitisers during April-August 2020 stood at $632.23 million.