India’s Minister of Commerce and Industry, Piyush Goyal has urged a revamp of the department of commerce to enable sustained export growth in the next decade, and pushed the need for building India’s brand name among its global peers.
Under a project study for the commerce department, key recommendations made include forming a trade promotion body for an overall promotion strategy, export targets and execution. Strengthening negotiations via skilled negotiation teams, and separation between bilateral and World Trade Organisation negotiations is also envisioned.
“The revamping of the commerce department is aimed at further building on its strategic direction and aspirations for the next decade,” Goyal told a recent meeting with government officials. “There is also a need for scaling-up and re-engineering the operation model … and to move from inherent traditional roles to new roles.”
Goyal also called for strengthening of the Directorate General of Foreign Trade and other organisations that promote investment and trade, and said constant monitoring of exports was crucial to achieve timely targets. A so-called Trade Remedies Review Committee for transparency in investigations outcomes was also a key suggestion.
