In order to achieve the export target of $2 trillion by 2030, the government is planning to reorganise the Department of Commerce.
“As part of the restructuring exercise, a dedicated trade promotion body would be set up to devise an overall strategy to achieve targets and make it future ready,” Union Minister Piyush Goyal said.
Goyal said that the focus will 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.
He said the objective is to raise India’s share in global exports and to create jobs.
“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,” he added.
He said his ministry is preparing for greater multilateral and bilateral engagement with other countries.
All of this has been studied and researched as a part of the restructuring exercise, Goyal said while releasing ‘The Department of Commerce Restructuring Dossier’.
The Ministry, he said, will induct experts from the private sector as well with a view to enhance India’s negotiating power at global forums and bilateral trade agreements.
On the performance of the exports in the current fiscal, Goyal said that “we are on track to achieve the target”.
(Inputs from PTI)
ETRise MSME Day 2022 Mega Conclave with Industry Leaders. Watch Now.