Jyotiraditya Scindia was born on January 1, 1971 in Mumbai which makes him among the youngest in the Parliament. Elected to the Lok Sabha in February 2002 from his father the late Madhavrao Scindia's constituency Guna in Madhya Pradesh, Jyotiraditya was initiated into his new career with an almost unprecedented lead of votes - a lead of more than 450,000.
JYOTIRADITYA SCINDIA
To fulfil even a fraction of the great expectations people have from him, Jyotiraditya Scindia will need to prove himself as much more than his father' son. As if the burden of late Madhavrao's legacy were not enough, the scion of the Scindia family is also being looked upon as the flagbearer for the next generation of India's political leadership that includes Varun Gandhi and Sachin Pilot, among others.








We Will Be Able To Post Upwards of 8% GDP Growth This Fiscal, Says Scindia


News

By ugesh sarkar, Section Business & Industry
Posted on Sun May 30, 2010 at 10:15:39 PM EST

Confident of meeting the $200-billion export target'.

With the new Foreign Trade Policy (FTP) in place since last August, hopes run high that the isolated episode of lackadaisical trade performance in the last couple of years would not recur.

In order to get the ground reality on the foreign trade front to dispel any doubts, Business Line spoke to the affable and articulate Minister of State for Commerce and Industry, Mr Jyotiraditya M. Scindia.

Not the one to countenance the canard that UPA-II is less rooting for reforms, Mr Scindia contends with zeal hat "Reform is very much a part of our agenda and it is very important to look at process as opposed to events.

Just because a one year milestone has been crossed does not mean that a couple of reforms should have taken place.

The process is very much on. Just as in UPA first five-year tenure, we will have major milestones and high economic pace to make development much-more inclusive and reform-oriented agenda in the current tenure".

Following are the excerpts from Mr Scindia's own words:

"We have done commendably on the export front in an environment of extreme volatility -- last 18 months had seen probably the most turbulent time that the world had witnessed since the Great Depression of the 1930s.

Keeping in mind the context of the turbulence that we have encountered, our policy is starting with the pump-priming of the economy with the stimulus package of Rs 1.90 lakh crore, followed by our FTP, which we have announced August of last year, where we looked at the new direction that need to be given for exports -- away from our traditional markets to much more developing markets such as Africa, Latin America, Oceania and Asia, I think all these steps combined have been able to close at $176 billion for 09-10, which is down by 4.7 per cent over the previous year.

Source: www.thehindubusinessline.com We will be able to post upwards of 8% GDP growth this fiscal, says Scindia

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Scindia For Training Institutes In SEZs


News

By ugesh sarkar, Section Business & Industry
Posted on Thu May 13, 2010 at 02:11:15 AM EST

Minister of State for Commerce and Industry Jyotiraditya Scindia today suggested setting up of industrial training institutes in SEZs, which have attracted investments of about USD 28 billion (around Rs 1.26 lakh crore).

"Why can't we not think of setting up of vocational training centres, ITIs within these SEZs," Scindia said at the CII annual conference here.

He said people trained in those institutes could get employment in the special economic zones (SEZs).

SEZs have emerged as major sources of employment in the recent years with about five lakh people getting jobs in the tax-free zones. The government has given formal approval for setting up 580 SEZs, of which 105 are operational.

Scindia further said there was need to create employment opportunities in the rural India as it would go a long way in checking migration towards cities

Source: PTI Scindia for training institutes in SEZs

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Govt Examining Ways To Trim Transaction Costs For Exporters


News

By ugesh sarkar, Section Business & Industry
Posted on Wed Apr 28, 2010 at 10:51:49 PM EST

The government today said it is examining ways to reduce transaction costs for exporters to enable them compete better in the tough global markets.

A task force headed by minister of state for commerce and industry Jyotiraditya Scindia is expected to submit its report by June-end.

Simplification of procedures and transparency issues need to be addressed. Cost arising out of inefficiencies in the process can be avoided, Scindia said at a Ficci function here today. He further said the transaction cost estimated to be $12-15 billion by the task force, works out to 7-8 per cent of total export value.

"Even if we are able to work on and reduce up to 30 per cent of these costs, we will be rendering a huge benefit to the exporting community," he said.

The cost in India is almost double than in China and Malaysia. He said members of the group would soon visit Denmark and Singapore to study their procedures.

The commerce ministry will work closely with other ministries of finance, agriculture, shipping, textiles and environment for execution of its strategy, he said.

The country's exports grew by 34.8 per cent to $16.09 billion in February compared to a year ago period. Exporters face aggressive competition from China and other developing countries for their pie of the developed markets.

Source: Business-standardGovt examining ways to trim transaction costs for exporters

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MP Govt Should Interact With Industrialists: Scindia


News

By ugesh sarkar, Section Business & Industry
Posted on Sat Mar 27, 2010 at 10:54:39 PM EST

Union Minister of State for Commerce and Industry Jyotiraditya Scindia today suggested Madhya Pradesh Government should hold one-to-one meeting with industrialists for attracting investment instead of holding investors meet.

"It would be better if the State Government holds one-to-one meeting with the industrialists for setting up industries in the state instead of holding investors meet," Scindia told reporters.

The Union Minister also advised the government to ponder over the fact that why Nano car project went to Gujarat instead of MP when better facilities were also available at Pithampur Industrial area near Indore.

One of the reasons behind industrialists not coming to Madhya Pradesh could be state's law and order situation, he said, adding besides, state has no proper infrastructure to create model industrial atmosphere.

Source: PTI MP govt should interact with industrialists: Scindia

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Govt To Fast-Track Export Clearances: Scindia


News

By ugesh sarkar, Section Business & Industry
Posted on Mon Mar 22, 2010 at 11:47:11 PM EST

COMMITTEE UNDER MINISTER MAKING IN-DEPTH STUDIES TO CUT TRANSACTION COSTS BY 7-10%

Exporters hit by the world trade contraction can look forward to a helping hand from the government, which is determined to speed up steps to cut their transaction costs--by $10-15 billion or 7-10% of the value of India's merchandise exports--the minister of state for commerce and industry Jyotiraditya Scindia told FE. A plan of action is underway for reducing the time lost by exporters in the maze of bureaucracy and virtual monetisation of the time so saved, the minister said in an interview.

A committee chaired by Scindia and comprising multiple agencies that exporters interact with would work across various verticals to identify areas where transaction costs can be cut. "We are in the process of doing in-depth studies," Scindia said.

The agencies that an exporter needs to approach between his signing a contractual agreement with the buyer abroad and delivery of goods are multifarious (the DGFT, Customs, airport and seaport authorities, railways, export promotion councils, state government departments, quality control agencies, banks and the like.). Hundreds of documents are to be produced before these agencies. It takes 25-40 days for the exporter to complete the procedures, not to mention the "additional monetary costs" (read corruption).

In recent months, as part of the measures to obviate multiple clearances, the government introduced a system of electronic data exchange between DGFT and Customs in certain sectors.

The system would be fully functional, by including all agencies and sectors, by June 2010, an official source said.

The recommendations of the Scindia committee would go much beyond these and produce a list of doable actions in the next 2-3 months to facilitate fast-track clearances and simplified procedures.

Source: Financial Express By Ronojoy Banerjee Govt to fast-track export clearances: Scindia

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3 Sub-Schemes For Development Of Leather Industry


News

By ugesh sarkar, Section Business & Industry
Posted on Wed Mar 10, 2010 at 02:28:02 AM EST

The government is implementing three sub-schemes for the development of leather industry, informed Jyotiraditya M. Scindia, Minister of State for Commerce and Industry, in a written reply in the Lok Sabha on Monday.

The minister informed that the Central Government is implementing three sub-schemes under Indian Leather Development Programme (ILDP) during the 11th Five Year Plan to meet the requirement of manpower in the leather industry.

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"The government is implementing a sub-scheme, "Integrated Development of Leather Sector" (IDLS) with an outlay of Rs. 253.43 crore  under ILDP during the 11th Five Year Plan period," release said.

Under the sub-scheme, assistance are provided to leather units in the form of investment grant at a rate of 30% for Small Scale Industries (SSI) and 20% for non-SSI upto Rs. 50 lakh. Assistance above Rs 50 lakhs is provided at a rate of 20% within ceiling of Rs. 2 crore.

Testing facilities for the Leather Industry exist at Central Leather Research Institute, Chennai and its Regional Centres at Jallandhar, Kolkata and Kanpur; Footwear Design and Development Institute at Noida and Fursatganj; and Testing Centre in the Footwear Component  Park at Chennai.

For addressing the environmental issues of the Leather Industry, the Central Government is implementing a sub-scheme "Environment Initiatives" with an outlay of Rs. 200 crore under ILDP during the 11th Five Year Plan period.

Source: smetimes.tradeindia.com 3 sub-schemes for development of leather industry

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Govt Likely To Reshuffle Exports Stimulus: Scindia


News

By ugesh sarkar, Section Business & Industry
Posted on Wed Mar 10, 2010 at 02:21:39 AM EST

The government may withdraw incentives offered to certain export-oriented sectors and reallocate them to industries that are still struggling for survival after a review in April, said the Minister of State for Commerce and Industry, Jyotiraditya Scindia, on Tuesday.

"After a review of the working of the various incentives, a decision for any kind of change in the stimulus measures for the sectors coming out from the impact of global financial meltdown will be taken after March 31," Scindia told reporters in New Delhi.

India's merchandise exports have been showing signs of recovery for the third straight month after declining 13 successive months since October 2008 on account of the global economic meltdown.

But while some sectors like tobacco, spices, man-made yarn, gems, chemicals and jewellery have shown satisfactory export growth in the past few months, textiles, handicrafts, carpet, engineering goods are still reeling under the impact of global crisis.

The government had provided over Rs. 1.80 lakh crore as part of three stimulus packages to prop up the economy against global downturn. Also, the Commerce Ministry had given enhanced assistance for exploring new markets to exporters and extension of duty refund scheme till December 2010, besides other sops.

Source: smetimes.tradeindia.com Govt likely to reshuffle exports stimulus: Scindia

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Export Incentives May Be Re-Distributed In April: Scindia news


News

By ugesh sarkar, Section Business & Industry
Posted on Thu Feb 25, 2010 at 10:10:46 PM EST

The commerce and industry ministry may re-jig export incentives after a review in April, withdrawing them from certain export-oriented industries and reallocating these to sectors that are still struggling for survival after the downturn.

"A decision for any kind of change in stimulus measures for the sectors coming out from the impact of the global financial meltdown will be taken after 31 March," minister of state for commerce and industry Jyotiraditya Scindia told reporters in New Delhi on Tuesday, after a function organised by Assocham.

While tobacco, spices, man-made yarn, gems, chemicals and jewellery have shown satisfactory export growth in the past few months, textiles, handicrafts, carpet and engineering goods are still reeling under the impact of the global crisis, he said.

The ministry had given enhanced assistance to exporters to explore new markets and an extension of duty refund scheme till December 2010, besides other sops.

On budget expectations, Scindia said he had requested finance minister Pranab Mukherjee to at least retain the allocation of Rs3,652 crore for the ministry, as was done in the previous year.

After declining for 13 straight months, exports grew 18.2 per cent in November. Growth stood at 9.3 per cent and 11.5 per cent in December and January respectively.

Source: www.domain-b.com Export incentives may be re-distributed in April: Scindia news

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Stimulus Reshuffle After Review In April


News

By ugesh sarkar, Section Business & Industry
Posted on Tue Feb 23, 2010 at 08:26:46 PM EST

The Commerce and Industry Ministry may withdraw incentives offered to certain export-oriented industries and reallocate them to those that are struggling for survival after a review in April.

"...decision for any kind of change in the stimulus measures for the sectors coming out from the impact of global financial meltdown will be taken after March 31," Minister of State for Commerce and Industry Jyotiraditya Scindia said at an Assocham function.

While tobacco, spices, man-made yarn, gems, chemicals and jewellery have shown satisfactory export growth in the past few months, textiles, handicrafts, carpet, engineering goods are still reeling under the impact of global crisis.

The Ministry had given enhanced assistance for exploring new markets to exporters and extension of duty refund scheme till December 2010, besides other sops.

Source: beta.profit.ndtv.com Stimulus reshuffle after review in April

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Scindia Meets Israel President : Developing Further Cooperation In Progress


News

By ugesh sarkar, Section Business & Industry
Posted on Fri Feb 19, 2010 at 01:46:23 AM EST

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Jyotiraditya Scindia, Minister of State for Commerce & Industry presently on a two day (16-18 February) visit to Israel, called on President Shimon Peres and discussed various aspects of India-Israel bilateral cooperation. Scindia stated that the proposed free trade agreement between India and Israel is expected to give a major boost to trade and economic cooperation.

Scindia also discussed possibilities of developing further cooperation in high tech areas including IT, Bio-technology, and Nano technology to take advantage of mutual core competencies. The two sides also exchanged views on the global challenge posed by terrorism and ongoing cooperation between the two countries in the area of homeland security. Both the leaders agreed to emphasise on cooperation in the application of science & technology particularly in areas related to agriculture and water management.

Later Scindia met Israeli Minister of Industry, Trade & Labour Benjamin Ben-Eliezer.The Minister underlined the fact that R&D constitutes a fundamental basis for core competence in multiple industrial areas for both countries. Scindia proposed that a practical step to enhance high tech cooperation would be to set up a Government to Government joint technology incubator initiative in India with representation from both sides including the private sector.

He also met leading Israeli industrialists to discuss promotion of trade and commerce between the two countries and delivered a Keynote Address on "Indian Economy in the Next Decade - an Engine for Growth" at a seminar jointly organised by the Israeli Export and International Cooperation Institute and the Embassy of India.

The bilateral trade figure for the last fiscal (2008-09) was US $ 3.55 billion with exports from India amounting to US $ 1.5 and imports to India amounting to US$ 2.09 billion.  Bilateral trade increased at a compound annual growth rate of 15 percent over the last five years.

Source: www.mynews.in By: Ch. Narendra Scindia Meets Israel President : Developing Further Cooperation In Progress

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Business & Industry

Tuesday February 9th
+ Commerce Ministry Hopes Export Stimulus To Stay For Some More Time (0 comments)
+ Scindia Pitches For Cheaper Dollar Credit (0 comments)

Wednesday February 3rd
+ Need To Invest In Branding, Packaging Spices: Scindia (0 comments)

Wednesday January 20th
+ Minister Assures Subsidy To Small Rubber Growers (0 comments)

Wednesday January 6th
+ Govt To Announce Stimulus For Select Exporters Soon (0 comments)

Sunday December 13th
+ Won't Curb Exporter Sops Till Recovery Strengthen: Scindia (0 comments)

Tuesday December 8th
+ 'State Should Now Aggressively Take Up SEZ Cause': Jyotiraditya Scindia in An Interview With ET (0 comments)

Thursday December 3rd
+ No Significant Impact Of Dubai Crisis On Exports: Scindia (0 comments)

Tuesday December 1st
+ India Received 238 FDI Proposals So Far This yr (0 comments)

Wednesday November 11th
+ Fresh Stimulus Package For Exports In Works (0 comments)

Thursday November 5th
+ Debt Relief For Small Coffee Growers Soon (0 comments)

Wednesday October 21st
+ Exports Likely To Turn Positive By December: Scindia (0 comments)

Thursday October 15th
+ No Industries Are Coming Up In MP: Scindia (0 comments)
+ States Should Leave Land Acquisition To Investors: Scindia (0 comments)

Thursday October 1st
+ Scindia Demands Waiving Off Loans Of Pest Affected Farmers (0 comments)

Wednesday September 23rd
+ Free Trade Agreement Will Benefit India: Scindia (0 comments)
+ Transform Life In Rural Regions, Scindia Tells Industry (0 comments)

Monday August 31st
+ Foreign Trade Policy (FTP), A `Holistic Strategy' For Exporters: Scindia (0 comments)

Thursday August 27th
+ Slew Of Incentives For Exporters (0 comments)

Wednesday August 19th
+ Need To Look At Newer Markets For Exports: Scindia (0 comments)

Tuesday August 18th
+ Exports Sops May Continue Till Global Economy Turns Around (0 comments)

Saturday August 8th
+ India Prefered Investment Destination: Jyotiraditya Scindia (0 comments)

Sunday August 2nd
+ Services Sector - The face of 'Brand India, Said Jyotiraditya Scindia (0 comments)

Saturday August 1st
+ Policy Change: SEZs Need Govt Clearance To Sell More Than 49% (0 comments)

Friday July 31st
+ India's Services Exports Basket Needs To Be Expanded: Scindia (0 comments)

Friday July 24th
+ India's Exports Likely To Remain Same, Says Scindia (0 comments)

Thursday July 16th
+ SEZs Attract Over Rs 10,900 Crore FDI in 3 years (0 comments)

Tuesday July 14th
+ Govt Has No Plans To Change FDI Policy On Retail (0 comments)

Wednesday July 8th
+ Exporters Suffered Loss Worth Rs 8,982 cr: Scindia (0 comments)

Tuesday February 24th
+ Madhya Pradesh Plans Food Parks on PPP Model (0 comments)

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