Get All Access for $5/mo

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 Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Piyush Goyal Twitter handle

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."

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Leadership

As a Leader, Take These 5 Steps to Bridge the Gap Between Innovation and Execution

Companies that want to turn ideas into action must align their people and listen to their customers.

Starting a Business

Nearly 50% of America's Workforce Has a Secondary Source of Income or Side Hustle. Here Are 7 Steps You Should Take to Create Lasting Value for Yours.

Today's entrepreneurs have the opportunity to generate long-lasting supplementary income if they take these steps.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.