Piyush Goyal Releases 14 Vol Report on ‘Restructuring of Department of Commerce'

· Restructuring rests on 5 major pillars : Increasing India's share in global trade, assume leadership role in multilateral organisations, democratisation of trade, creating 100 Indian Brands as Global Champions, and setting up Economic Zones in India to strengthen the manufacturing base and attract greater investments to India.

· Exports Growth to Play a Key Role in India becoming a Developed Nation by 2047

· We Aim to Achieve 2 trillion dollar Exports by 2030

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Mr. Piyush Goyal on 23 August, 2022 released the ‘Department of Commerce Restructuring Dossier’ at Vanijya Bhawan, New Delhi.

Releasing the report, Mr. Goyal said restructuring of the entire department of commerce aims at preparing India to become a key global player in world trade. He further said the restructuring rests on 5 major pillars : Increasing India's share in global trade, assume leadership role in multilateral organisations, democratisation of trade, creating 100 Indian Brands as Global Champions, and setting up Economic Zones in India to strengthen the manufacturing base and attract greater investments to India.

Mr. Goyal said Restructuring exercise is a mammoth endeavour focused on ‘Aatmanirbhar Bharat’ and an Aatmanirbhar Commerce Department. The 14 volumes of the report define the role of each section within 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 the organization perform effectively, he added.

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, a vision articulated by PM Mr. Narendra Modi, in his Independence Day address to the nation this year. He emphasised that Indian Trade and Commerce will not only be a strong element in India’s march to prosperity, towards becoming a developed nation when we turn 100 in 2047, but also play an extremely important role in serving the needs of the whole world.

Mr. Goyal said we aspire to achieve 2 trillion dollars worth of exports by 2030. This will make us among the top nations in world trade and change the way the world sees us. Mr. Goyal further said Prime Minister Modi has led from the front and energised the entire export ecosystem. It is due to the constant guidance and mentoring by PM that we not only met but also beat export targets, he emphasised. The PM has urged all the missions across the world to focus on 3 Ts- Trade, Technology and Tourism. These are now an integral part of the duties of all the Missions, he added.

Mr. Goyal noted some of the ideas that have emerged out of Restructuring exercise include a dedicated 'Trade Promotion Body' to drive formulation & execution of promotion strategy, Digitization of trade facilitation processes, Rehauling of the data & analytics ecosystem and capacity building of Indian Trade Service to drive specialization & institutional memory.