New Delhi, Mar 18 (PTI) A parliamentary panel, in its report presented on Wednesday, recommended exploring the creation of a Capital Expenditure Efficiency Framework (CEEF) in coordination between the DPIIT and the finance ministry to prioritise and monitor projects based on objective criteria.
"The framework should ensure funding of high-impact and fiscally sustainable projects, selected on the basis of growth potential, economic returns, readiness, asset monetisation potential and contribution to ease of doing business and competitiveness. It should also help in planning of major projects to minimise delays and cost overrun," the panel said.
The Department Related Parliamentary Standing Committee on Commerce, headed by Rajya Sabha MP Dola Sen, made various recommendations in the 196th and 195th Reports on Demands for Grants (2026-27) of the Department for Promotion of Industry and Internal Trade (DPIIT) in the Ministry of Commerce and Industry in both Houses of Parliament.
The committee noted with concern that the number of patent applications filed by Indian applicants abroad declined to 13,253 in 2024 compared to 14,271 in 2023, that is, by about 7 per cent. Filing patents in foreign countries helps Indian innovators protect their inventions and compete better in the global market.
The committee, therefore, recommended that the department take concerted measures to facilitate and incentivise overseas patent filings by Indians.
This may include introducing an appropriate tax-credit mechanism or launching a simplified Global IP Filing Incentive Scheme to reimburse a portion of overseas patent-related costs.
With regard to strengthening the commercialisation of patented technologies, the committee recommended the creation of a dedicated patent commercialisation fund to provide grants or soft loans for pilot production, validation and scale-up of institution-owned patents.
Institutional incentives may be aligned with performance-based IP metrics, and structured mentorship networks may be developed to connect inventors with industry and investors, the panel recommended.
In the 195th Report on Demands for Grants (2026-27), the Department Related Parliamentary Standing Committee on Commerce noted the widening trade deficit and the stagnation in merchandise exports during 2025-26, and recommended that the department may undertake targeted and time-bound measures to enhance export competitiveness and provide focussed support to high-potential sectors in order to correct the trade imbalance.
Further, the department should undertake a strategic diversification of India's merchandise export basket, with a clear shift towards high-value sectors, and emphasise the need to revitalising labour-intensive industries through targeted policy support and effective utilisation of existing schemes, it said.
The committee further recommended strengthening domestic manufacturing capabilities to reduce dependence on imports, particularly in crude petroleum, gold and electronic components, and also to focus on capacity-building measures and strengthening supply chains.
Value-addition initiatives should be at priority to enhance competitiveness and improve the overall trade balance, with a focus on "Make in India" and "Aatmanirbhar Bharat", the panel said.
Besides, it noted the steps taken by the Reserve Bank of India (RBI) and Directorate General of Foreign Trade to promote international trade settlement in Indian Rupees (INR).
These include the introduction of Special Rupee Vostro Accounts (SRVAs), suitable provisions under the Foreign Trade Policy-2023 and amendments to the Foreign Exchange Management Regulations to enable cross-border transactions in INR and other foreign currencies.
The panel hoped that this arrangement will promote the growth of global trade with an emphasis on exports from India and support the increasing interest of the global trading community in INR.
The committee further recommended creating an inter-ministerial monitoring mechanism to ensure coordinated policy action and address emerging bottlenecks in a timely manner to support the sustainable internationalisation of the Indian Rupee.