A dedicated trade promotion body to be set up to devise overall strategy to achieve targets, said Union Minister Piyush Goyal
A dedicated trade promotion body to be set up to devise overall strategy to achieve targets, said Union Minister Piyush Goyal
The Department of Commerce is being restructured to make it ‘future ready’ and put in place an ecosystem to achieve the $2 trillion export target by 2030, Union Minister Piyush Goyal said on Tuesday.
Talking to reporters here, the Commerce and Industry Minister said that as part of the restructuring exercise, a dedicated trade promotion body would be set up to devise an overall strategy to achieve targets.
The focus of restructuring, he said, would also be on strengthening negotiations capability at the World Trade Organisation (WTO) and for bilateral free trade agreements; centralisation and digitisation of trade facilitation processes and rehauling the data analytics ecosystem.
The objective was to increase India’s share in global exports and also to create jobs, he noted.
Mr. Goyal also said that there would be no reduction of manpower in the Commerce Ministry on account of restructuring, but may go up.
“Indian trade and commerce will not only be a strong element in India’s march to prosperity, towards becoming a developed nation in the Amrit Kaal, but also play an extremely important role in serving the needs of the whole world,” the Minister noted.
He said his ministry was preparing for greater multilateral and bilateral engagement with other countries.
All of this had been studied and researched as a part of the restructuring exercise, Mr. Goyal said while releasing ‘The Department of Commerce Restructuring Dossier’.
The ministry, he said, would induct experts from the private sector as well with a view to enhancing India’s negotiating power at global forums and bilateral trade agreements.
On the performance of exports in the current fiscal, Mr. Goyal said, “we are on track to achieve the target”.
