India To Exempt High-Tech Sector Companies From BIS Certification For Ease Of Doing Business: Piyush Goyal

Commerce and Industry Minister Piyush Goyal today said the government is working on a framework to exempt high-tech sector companies, including from Japan, from mandatory Bureau of Indian Standards (BIS) certification for equipment and components needed to set up manufacturing facilities in India. The minister today addressed representatives of Japanese firms from semiconductors and artificial intelligence sectors in Tokyo.

The Minister said, the framework could provide exemptions at the company, industry, product or project level, depending on the requirements. He said, the objective is to ensure timely availability of equipment, goods and services for high-tech companies setting up manufacturing operations in India and support the government’s ‘Make in India’ initiative. Mr. Goyal said, India is a large and growing electronics market and its semiconductor demand is expected to grow up to 150 billion US dollar by 2032.

The Commerce and Industry Minister also held discussions with executives from Japan’s leading financial institutions to boost long-term investment and strengthen India-Japan economic ties. Representatives from various industries bodies discussed investment opportunities in India. Mr. Goyal highlighted the strength and resilience of the Indian economy, noting that India recorded 7.7 percent growth last year despite global uncertainties and is working toward becoming a 30 trillion dollar economy by 2047. (UPDATED ON 25TH AUGUST 26)