MINISTRY OF COMMERCE AND INDUSTRY

THERE IS ALWAYS A CONFUSION BETWEEN THE MINISTRIES OF COMMERCE & INDUSTRY AND CORPORATE AFFAIRS. WHAT IS EXACTLY THE LEAP OF DIFFERENCE BETWEEN THEM? ARE THEY BOTH CONCERNED WITH THE INDUSTRIAL SECTOR? LET US HAVE A QUICK LOOK INTO THESE.

 THE MINISTRY OF COMMERCE AND INDUSTRY IS DIVIDED INTO TWO IMPORTANT DEPARTMENTS SHARING THEIR WORK FOR AUTHENTIC RESEARCH AND DEVELOPMENT NAMELY DEPARTMENT OF COMMERCE AND DEPARTMENT OF INDUSTRIAL POLICY AND PROMOTION.

THE DEPARTMENT OF COMMERCE DEALS IN THE DEVELOPMENT AND PROMOTION OF INTERNATIONAL TRADE AND COMMERCE THROUGH FORMULATION OF APPROPRIATE POLICIES. THE MAIN OBJECTIVE IS TO MAKE INDIA A PROMINENT PLAYER IN THE WORLD TRADE BY INCREASING THE EXPORTS BY OBTAINING THE EXPORT ACCESS FROM THE INTERNATIONAL MARKETS BY NEGOTIATING BILATERAL, TRILATERAL AND MULTILATERAL RELATIONS WITH THE OTHER COUNTRIES. THIS DEPARTMENT IS ALSO RESPONSIBLE FOR THE FORMULATION OF FOREIGN TRADE POLICY WHICH WILL BE REVIEWED FOR EVERY 12 MONTHS TO MAKE THE NECESSARY CHANGES ACCORDING TO THE SCENARIOS OF BOTH DOMESTIC AND INTERNATIONAL ECONOMY. BESIDES THIS, IT ALSO HAS A RESPONSIBILITIES RELATING TO THE MAINTENANCE AND PROMOTION OF SPECIAL ECONOMIC ZONES. THE DEPARTMENT IS HEADED BY A SECRETARY WHO IS ASSISTED BY THE ADDITIONAL SECRETARY AND FINANCIAL ADVISER, 4 ADDITIONAL SECRETARIES, 12 JOINT SECRETARIES AND JOINT SECRETARY LEVEL OFFICE WITH MANY OTHER SENIOR OFFICERS. THE RESEARCH OF THIS DEPARTMENT DEPICTS THE INTERNATIONAL TRADE RELATION AND THE EXTENT AND POTENTIAL OF OUR EXPORTS.

THE DEPARTMENT OF INDUSTRY IS ONE OF THE IMPORTANT AND INFLUENTIAL DEPARTMENT IN THE INDUSTRIAL SECTOR OF INDIA. WITH THE IMPLEMENTATION OF LIBERALISATION OD INDIA, THERE ARE MANY OPPORTUNITIES FOR THE INDUSTRIAL SECTOR WHICH HAD TO BE REGULATED AND DEVELOPED BY A SEPARATE DEPARTMENT. THUS, IT WAS INTRODUCED IN THE YEAR 1995 AND WAS INCLUDED UNDER THE MINISTRY OF COMMERCE IN THE YEAR 2000. IT IS RESPONSIBLE FOR THE PROMOTING AND TAKING DEVELOPMENTAL MEASURES FOR THE GROWTH OF INDUSTRIAL SECTOR. IT IS ALSO RESPONSIBLE FOR THE STAKE OF FDI IN INDIAN INDUSTRY AND THE INTELLECTUAL PROPERTIES LIKE PATENTS, TRADEMARKS OF THE GOODS AND ENCOURAGE THEIR INITIATION AND PROGRESS. THE ENTIRE INDUSTRIAL POLICY OF INDIA IS UNDER THE ADMINISTRATION OF THIS DEPARTMENT.

THE TWO DEPARTMENTS HAVE TO WORK HAND IN HAND IN ORDER TO MAKE INDIA PROSPEROUS. THE DEVELOPMENT OF INDUSTRIAL SECTOR DIRECTLY DEVELOPS THE COMMERCE OF THE COUNTRY. THUS THE INDUSTRIAL PRODUCE AUTOMATICALLY INCREASES THE EXPORTS ADDING TO THE GDP OF OUR COUNTRY. HENCE, THIS MINISTRY PLAYS AN IMPORTANT ROLE IN THE DEVELOPMENT OF THE COUNTRY'S INDUSTRY AND ALSO ON THE GROUNDS OF INTERNATIONAL MARKET DEVELOPING THE INTERNATIONAL RELATIONS.

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