Commerce department being restructured to make it future ready: Goyal

The Department of Commerce is being restructured to make it 'future ready' and put in place an ecosystem to achieve the $2 trillion export target by 2030, Union Minister Piyush Goyal said Tuesday

The Department of Commerce is being restructured to make it 'future ready' and put in place an ecosystem to achieve the USD 2 trillion export target by 2030, Union Minister Piyush Goyal said on Tuesday.

Talking to reporters here, the commerce and industry minister said that as part of the restructuring exercise, a dedicated trade promotion body would be set up to devise an overall strategy to achieve targets.

The focus of restructuring, he said, will also be on strengthening negotiations capability at the World Trade Organisation (WTO) and for bilateral free trade agreements; centralisation and digitisation of trade facilitation processes and rehauling the data analytics ecosystem.

The objective is to increase India's share in global exports and also to create jobs, he noted.

Goyal also said that there will be no reduction of manpower in the Commerce Ministry on account of restructuring, but may 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," the minister noted.

He said his 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, Goyal said while releasing 'The Department of Commerce Restructuring Dossier'.

The Ministry, he said, will induct experts from the private sector as well with a view to enhance India's negotiating power at global forums and bilateral trade agreements.

On the performance of the exports in the current fiscal, Goyal said that "we are on track to achieve the target".