Commerce Department Aims To Achieve $2 Trillion Export Target By 2030 The Union minister Piyush Goyal said that the ministry is preparing for greater multilateral and bilateral engagement with other countries
By Teena Jose
Opinions expressed by BIZ Experiences contributors are their own.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
Union minister Piyush Goyal, on Tuesday, said that the government is planning to restructure the department of commerce to make it future ready and to achieve $2 trillion export target by 2030.
"As part of the restructuring exercise, a dedicated trade promotion body would be set up to devise an overall strategy to achieve targets ad make it future ready. The focus of restructuring will also be on strengthening negotiations capability at the World Trade Organisation (WTO) and for bilateral free trade agreements, centralization and digitization of trade facilitation processes and rehauling the data analytics ecosystem," said Goyal in a statement.
The minister signifies that the objective is to increase India's share in global exports and also to create jobs. He also pointed out that there will be no reduction of manpower in the commerce ministry on account of restructuring and assures that the staff numbers will 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," said minister.
While releasing 'The Department of Commerce Restructuring Dossier', Goyal said that, "The 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 and the ministry will induct experts from the private sector as well as with a view to enhance India's negotiating power at global forums and bilateral trade agreements."
As per Goyal's statement, "Restructuring exercise is a mammoth endeavor focused on 'Aatmanirbhar Bharat' and an Aatmanirbhar commerce department. The 14 volumes of the report define the role of each section with the department and lays down the expected outcomes and key performance indicators. These manuals would enable all the relevant stakeholders to understand their role in the revamped department and help organization perform effectively."
