The Commerce Department is set to restructure itself to better equip itself for free trade agreement (FTA) negotiations with developed countries such as the UK, Canada and Australia to “achieve the $2 trillion export target”.
Commerce Minister Piyush Goyal said the restructuring is aimed at increasing India’s share in global trade and hence a dedicated trade promotion body will be set up to formulate an overall strategy to achieve the goals.
Commerce Minister Piyush Goyal said, “Indian trade and commerce will not only be a strong factor in India’s prosperity towards becoming a developed nation in the elixir of time, but will also play an extremely important role in meeting the needs of the entire world. ” a press conference
“The Indian Business Service can also induct new talent through both government recruitment and the private sector so that we can have multi-functional teams working in the department. All this will create institutional memory,” the minister added.
The Minister said that 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 stressed that Indian trade and commerce will play an extremely important role in meeting the needs of the whole world.
Goyal said the ministry will also engage private sector experts with an aim to enhance India’s negotiating power on global forums and bilateral trade agreements.
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