ALL THE YEAR END REVIEW 2024 OF VARIOUS MINISTRIES (SUMMARIES) WILL BE MADE
AVAILABLE ON TELEGRAM CHANNEL – UPSC PRELIMS WITH NEELESH
Year End Review 2024: Department of Commerce
Ministry of Commerce & Industry
The schemes asked in the UPSC exams are often drawn from official government documents,
making ministry-specific schemes highly significant for Prelims preparation. Additionally, these
schemes serve as excellent value-addition material for enriching answers in the Mains
examination.
Main Topic Details
India-USA Bilateral • 6th India-USA Commercial Dialogue and CEO Forum Meeting held on
Cooperation 2nd and 3rd October 2024.
• A new MOU signed to expand and diversify critical minerals supply
chains between the two countries.
• India keen to join the Critical Minerals Partnership Agreement (CMPA)
under the IR Act.
India-UAE Bilateral • 2nd meeting of the Joint Committee under the India-UAE
Cooperation Comprehensive Economic Partnership Agreement (CEPA) held on 10th
October 2024 in Dubai.
• Both sides expressed optimism about achieving the $100 million non-oil
trade target before 2030.
• UAE to consider designating the Indian Jewellery Exposition Centre as
a Designated Zone.
• UAE to expedite the recognition of the i-CAS Halal scheme and
facilitate the export of animal products.
• The UAE assured changes in domestic regulations to fast-track
pharmaceutical product registrations and pricing.
India-Qatar Bilateral • Indian delegation held Joint Working Group (JWG) meeting in Doha on
Cooperation 10th July 2024.
• Discussions on an MoU for food safety and facilitating trade through
customs control on goods.
India-Egypt Bilateral • 6th Session of India-Egypt Joint Trade Committee (JTC) held from 16th
Cooperation to 17th September 2024 in New Delhi.
• MoU for cooperation between NSIC (India) and MSMEDA (Egypt) for
MSME development to be signed soon.
• Identified areas for cooperation, including the Suez Canal Economic
Zone (SCEZ), pharmaceuticals, gems & jewellery, engineering goods,
petroleum, mining, MSMEs, IT services, renewable energy, food
security, and digital payments.
India-Nigeria Bilateral • Discussed expanding bilateral trade and investment, acknowledging
Cooperation untapped potential.
• Agreed to finalize the Local Currency Settlement System Agreement
soon.
India-Ghana Bilateral • Identified several areas for enhancing bilateral trade and investment
Cooperation cooperation, including digital transformation, local currency
settlement, and opportunities offered by the African Continental Free
Trade Agreement.
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ALL THE YEAR END REVIEW 2024 OF VARIOUS MINISTRIES (SUMMARIES) WILL BE MADE
AVAILABLE ON TELEGRAM CHANNEL – UPSC PRELIMS WITH NEELESH
India-Africa • 19th CII India Africa Business Conclave held from 20th to 22nd August
Cooperation 2024 in New Delhi.
• Bilateral meetings held on the sidelines with Malawi, Chad, Somalia,
Zimbabwe, Niger, and Ghana.
India-Cambodia • 2nd meeting of Joint Working Group on Trade and Investment (JWGTI)
Bilateral Cooperation held on 19th June 2024 in New Delhi.
• Focused on improving trade and investment, promoting concrete
mutual benefits.
India-Myanmar • 8th meeting of India-Myanmar Joint Trade Committee (JTC) held on
Bilateral Cooperation 27th September 2024.
• Focused on areas like shipping, textiles, health, power, transport,
connectivity, ICT, 5G telecom stack, and MSMEs for collaboration.
InCENT Lab Grown • Project by IIT-Madras aimed at reducing import dependency by
Diamond Project encouraging indigenous production of lab-grown diamond (LGD) seeds
and machines.
• Key ‘Make in India’ initiative to drive the indigenization of LGD
manufacturing.
Bharat Mart in Dubai • A trade hub in Dubai, set up in the Jebel Ali Free Zone, for Indian
exporters in B2B and B2C formats.
• Aims to bridge the gap between India’s manufacturing sector and
international markets.
• Focus sectors include machinery, electronics, apparel, pharmaceuticals,
medical equipment, food, cosmetics, etc.
• Scheduled for commercial operations in Q1 2026.
Pradhan Mantri Cha • Aimed at benefiting over 10 lakh workers in Assam & West Bengal’s tea
Shramik Protsahan gardens by improving their access to education, health, and working
Yojana (PMCSPY) conditions.
Strengthening Organic • Revamping of the National Programme of Organic Production (NPOP)
Regulatory Ecosystem will benefit around 20 lakh farmers.
• Improved certification ecosystem is expected to increase organic
exports to over USD 1 billion by 2025-26.
Enhanced Insurance • ECGC extended the scope of its Whole Turnover Export Credit
Cover for MSME Insurance for Banks (WT-ECIB) Scheme to cover export credit working
Exporters capital limits up to ₹80 crore since 1st July 2024.
• Also introduced enhanced coverage of up to 100% for exporters taking
policies directly from the company.
E-Commerce Export Hubs • Provision of E-Commerce Export Hubs (ECEHs) in Union Budget 2024-
25 to empower MSMEs and traditional artisans to access international
markets.
• The hubs will provide trade and export-related services such as
warehousing, packaging, labeling, certification, logistics, and returns
management for cross-border e-commerce.
• The hubs aim to enable expedited deliveries to global markets.
Launch of Aabhar • GeM launched "The AABHAR COLLECTION" on July 11, 2024, under
Collection the #VocalForLocal initiative.
• The collection features curated One District One Product (ODOP),
Geographical Indication (GI), and other products like gift hampers.
• Featured categories:
CONNECT WITH ME IN TELEGRAM – UPSC PRELIMS WITH NEELESH (AIR 442 UPSC CSE 2021), Visit
YouTube for free CSAT, Geography and Economy videos, Visit www.neeleshair442.com for
PYQ/Mnemonics/Short notes etc.
ALL THE YEAR END REVIEW 2024 OF VARIOUS MINISTRIES (SUMMARIES) WILL BE MADE
AVAILABLE ON TELEGRAM CHANNEL – UPSC PRELIMS WITH NEELESH
o Handloom products
o Handicraft products
o Artisanal food items
o Personal care products
o Sustainable products
Digital Transformation • Trade Connect e-Platform launched on September 11, 2024, as a one-
stop solution for exporters, offering real-time trade information and
connecting key government bodies and trade experts.
• JanSunwai Facility, empowers trade through on-demand video
conferencing for instant interactions with officers.
• The e-BRC system is paperless and cost-free, streamlining export
processes and benefiting small exporters.
• 24x7 Auto-Generation of e-IEC system allows instant issuance of
Importer Exporter Code.
• Trade Facilitation Mobile App offers information on Foreign Trade
Policy, Export/Import Statistics, and provides virtual assistance.
Plantation Boards • Coffee Exports (April-October 2024): USD 1047 million, a 46%
(Coffee Board, Rubber increase.
Board, Tea Board, and • Tea Exports (April-October 2024): USD 525.96 million, reflecting a
Spices Board) growth of 13.43%.
• Spices Exports (April-October 2024): 10.40% increase in value,
reaching USD 2476.50 million.
• INROAD Project (Rubber Plantations in NE): 125,722.47 ha planted as
of November 2024, benefiting 140,000 small growers.
• Coffee Board's Participation: Gulfood 2024 in Dubai and Buyer Seller
Meet in Dubai on February 21, 2024.
• Tea Board's Participation: BATIC 2024 in Guwahati and showcasing at
World Food India 2024.
• Spices Board Initiatives: Introduced climate-resilient small cardamom
variety 'ICRI 10' and MoU with Directorate of Horticulture,
Uttarakhand, to promote sustainable agriculture.
• Financial Assistance: Enhanced for the Plantation Sector under newly
approved schemes for 2024-25 and 2025-26.
Directorate General of • Announced enhancements to the EPCG Scheme to simplify processes,
Foreign Trade (DGFT) reduce transaction costs, and promote automation.
• Extension of time to submit installation certificates for imported
capital goods and simplified calculations for composition fee for
extending export obligation.
• One-time Amnesty Scheme introduced for closing old pending
authorizations.
Export Inspection Council • Enhanced market access for premium Indian fish species (Pampus
(EIC) chinensis, Pampus argenteus, and Scylla serrata) to China.
• Upgraded Microbiology laboratory at EIA-Kochi for food testing in
compliance with international standards.
• List of establishments by Russian Federation: Export of dairy products
and egg products expanded.
Directorate General of • Investigations initiated in over 50 cases under Anti-dumping,
Trade Remedies (DGTR) Countervailing, and Safeguard Rules.
CONNECT WITH ME IN TELEGRAM – UPSC PRELIMS WITH NEELESH (AIR 442 UPSC CSE 2021), Visit
YouTube for free CSAT, Geography and Economy videos, Visit www.neeleshair442.com for
PYQ/Mnemonics/Short notes etc.
ALL THE YEAR END REVIEW 2024 OF VARIOUS MINISTRIES (SUMMARIES) WILL BE MADE
AVAILABLE ON TELEGRAM CHANNEL – UPSC PRELIMS WITH NEELESH
• Measures imposed in more than 25 cases including Metals (Steel,
Solar Industry), Electronics (PCBs), and Chemicals.
• Suo-moto investigations on products like Telescopic Channel Drawer
Slider, Vacuum flasks, and Unframed Glass Mirror, leading to imposed
duties.
Special Economic Zones • Non-IT/ITES SEZs now eligible for RoDTEP benefits via ICEGATE
(SEZ) portal.
• NSEZ Capgemini Skill Development Centre inaugurated on 25.06.2024
for upskilling workers and empowering youth, targeting 1000 youths
annually.
Indian Institute of • Tops in LinkedIn Global MBA Ranking 2024 in Networking and 51st
Foreign Trade (IIFT) among top 100 MBA programs worldwide (Sept. 2024).
• IIFT ranked 7th among all B-Schools in India (Business India, Oct.
2024).
• IIFT’s first overseas campus in Dubai, aiming to promote trade and
investment between India and UAE.
• Setting up Centre for International Trade Negotiations for research
and training of government officials and corporates.
• Establishing Foreign Trade Case Study Centre for creating Indian case
studies.
Government e • Launched in 2016, GeM transformed public procurement by
Marketplace (GeM) promoting digital governance.
• Achieved 100% coverage of states/UTs, MoU signed with
Government of Sikkim.
• GeM has simplified procurement processes and reduced transaction
charges, benefiting MSMEs.
Indian Trade Promotion • Organized trade fairs like Atmanirbhar Bharat Utsav’24, Aahar 2024,
Organisation (ITPO) India International Footwear Fair’24, and international fairs like
Summer Fancy Food Show, USA, and FIME, Florida.
• New business development policy launched in July 2024, reducing
tariffs up to 44%.
Trade Performance • Total exports from April-October 2024 grew by 7.3%, reaching USD
468.5 Billion.
• Merchandise exports increased by 3.1% to USD 252.2 Billion.
• Service exports grew by 12.7% to USD 216.3 Billion.
• Top performing sectors: Computer Services (47.4%), Other Business
Services (26%), Transport (9.62%), Travel (8.31%). (Very important for
prelims)
o Agricultural exports: USD 27.84 Billion, growth from USD
26.90 Billion.
o Basmati rice exports increased by 14.28%.
o Engineering goods exports grew by 9.73%.
o Smartphone exports increased by 36.85%.
o Solar PV exports grew from USD 1.03 Billion in 2022-23 to
USD 2.02 Billion in 2023-24.
CONNECT WITH ME IN TELEGRAM – UPSC PRELIMS WITH NEELESH (AIR 442 UPSC CSE 2021), Visit
YouTube for free CSAT, Geography and Economy videos, Visit www.neeleshair442.com for
PYQ/Mnemonics/Short notes etc.
ALL THE YEAR END REVIEW 2024 OF VARIOUS MINISTRIES (SUMMARIES) WILL BE MADE
AVAILABLE ON TELEGRAM CHANNEL – UPSC PRELIMS WITH NEELESH
Dear Future Officers,
As you know, UPSC has the habit of forming questions from various schemes/initiatives/meets/targets etc.
of various ministries in Prelims. For this, one of the authentic sources is Year End Review of Ministries
which they release officially on PIB. We have made an attempt to simplify it and provided it in easy-to-
remember format.
Share it with others aspirants too and help others too.
NEELESH KUMAR SINGH
AIR 442 UPSC CSE 2021
CONNECT WITH ME IN TELEGRAM – UPSC PRELIMS WITH NEELESH (AIR 442 UPSC CSE 2021), Visit
YouTube for free CSAT, Geography and Economy videos, Visit www.neeleshair442.com for
PYQ/Mnemonics/Short notes etc.
