The Department of Commerce is set for restructuring to better equip itself for free trade agreement (FTA) negotiations with developed nations such as the UK, Canada and Australia so as to “achieve a $2 trillion export target”.
Commerce Minister Piyush Goyal said that the restructuring aims at increasing India’s share in global trade and therefore a dedicated trade promotion body would be set up to devise an overall strategy to achieve targets.
“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,” Commerce Minister Piyush Goyal said at a press conference
“Indian trade service can also infuse new talent both through government recruitment and from the private sector so that we can have multi-functional teams working in the department. All this will lead to institutional memory being created,” the minister further said.
The Minister said the focus on exports has been one of the most defining features of the government’s efforts to make India a developed country by 2047. He emphasized that Indian Trade and Commerce will play an extremely important role in serving the needs of the whole world.
Goyal added that the ministry will induct experts from the private sector as well with a view to enhancing India’s negotiating power at global forums and bilateral trade agreements.
Download The Mint News App to get Daily Market Updates.
More
Less
For all the latest world News Click Here
