Indian Economy News

PM Modi unveils Vanijya Bhawan, launches NIRYAT portal: 10 updates

  • IBEF
  • June 24, 2022

Prime Minister, Mr. Narendra Modi launched a new portal NIRYAT (National Import-Export Record for Yearly Analysis of Trade) - a one-stop place for all information needed on India’s foreign trade on 23 June, 2022 while inaugurating the new premises of Ministry of Commerce and Industry - ‘Vanijya Bhawan’

The objectives of "Atmanirbhar Bharat" are represented by the new Vanijya Bhawan and the NIRYAT portal. The launch of new premises of Ministry of Commerce, and the portal will result in beneficial developments for the trade and commerce sector, particularly for MSMEs, said Mr. Modi.

Indian exports stood at US$ 670 billion in FY 2020-21 despite global disruptions. Initiatives like 'Vocal for Local' have also accelerated country's exports, added Mr. Modi.

The government's emphasis on local products through the Vocal for Local campaign, 'One district, one product' scheme, has also contributed to an increase in India's exports, according to Mr. Modi.

India is ranked 46th in the Global Innovation Index and is continuously improving.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.