Built to inform

Sign up for the daily newsletters

No, Thank you

Commerce ministry to soon seek Cabinet nod for Multi-Modal Transportation of Goods Bill: Piyush Goyal

He also said a decision would soon be taken to provide easy export credit to exporters

Commerce Ministry, Union Cabinet, Multi-Modal Transportation of Goods Bill 2019, Piyush Goyal, National logistics policy 2019, MMTG Act 1993, MSMEs, Directorate General of Trade Remedies, Guruprasad Mohapatra, Coal mining

The Commerce Ministry will soon approach the Union Cabinet to seek approval for the proposed Multi-Modal Transportation of Goods Bill, 2019, (MMTG) which seeks to facilitate smooth movement of products for domestic consumption as well as foreign trade.

Commerce and Industry Minister Piyush Goyal also said that the national logistics policy 2019 is being finalised and, soon, they will seek the Cabinet's nod for that as it aims at cutting logistics cost cut by one-third. "We have finalised the Multi-Modal Transportation of Goods Bill, 2019, and soon we will take that up with the Cabinet. It will help in faster movement of consignments for exports, imports and domestic trade," he said.

Multimodal transportation includes a combination of more than one mode of movement, such as rail, road or sea, for end-to-end delivery of goods. After getting the Cabinet's approval, the Bill will be laid in Parliament for approval. It would repeal the existing MMTG Act 1993.

The minister also said MSMEs (micro, small and medium enterprises) and start-ups would get concessions in filing patents, copyrights and trademark applications. "Soon, we will announce that to give more concessions to them," he said.

He added that a separate cell for MSMEs will be set up at the Directorate General of Trade Remedies (DGTR) to help them file applications for dumping cases. The ministry would provide free services to them as it costs more to hire lawyers and do data collection.

He said the ministry is studying rules of all other countries pertaining to trade remedy measures like anti-dumping duties and "then, we will align the rule of India". "In the next 10 days, we will take a decision on this," he said adding that because of lesser duty rule, India is not able to take measures in full fairness.

He also said a decision would soon be taken to provide easy export credit to exporters. Goyal also hoped that because of the recent liberalisation of foreign direct investment (FDI) norms in certain sectors, India can attract large-scale manufacturing.

When asked about the timeline for issuance of press notes, notifying the recently announced FDI relaxations in certain sectors, DPIIT Secretary Guruprasad Mohapatra said, "We are waiting for the Cabinet resolution to come. Press notes are ready".

The government has recently liberalised FDI norms in contract manufacturing, single-brand retail trading, and coal mining.

Most Popular

Awards

Olympia Group announces to build up 1.1mn sq-ft greenfield it park in Guindy
The project will have a total investment of about Rs 750 crore

Conferences

Vital pre-monsoon building works resume in Maharashtra
The state government has permitted pre-monsoon work by BMC and other agencies

Latest Issue

June 2020
10 Jun 2020