Indian Economy News

Union Minister Mr. Piyush Goyal Interacts with Industry Stakeholders on Ease of Doing Business, FTA Opportunities and Trade Reforms Workshop

The Department for Promotion of Industry and Internal Trade organised a stakeholder workshop on Ease of Doing Business, Free Trade Agreement opportunities and trade-related reforms at Bharat Mandapam, New Delhi, followed by an interaction with Mr. Piyush Goyal, Union Minister of Commerce and Industry, and Mr. Jitin Prasada, Minister of State for Commerce and Industry. Mr. Piyush Goyal outlined measures to strengthen export facilitation through physical and digital mechanisms, including integrated Commerce and Industry offices in major cities to provide businesses with a common access point to multiple departments and agencies. Mr. Piyush Goyal also announced a proposed network of around 1,000 trained local personnel with regional-language capabilities to support exporters and prospective exporters at district and State levels. These personnel would provide handholding support through industry chambers and regional associations. The workshop also highlighted the positive impact of measures such as Quality Control Orders, Minimum Import Price provisions and higher import duties on the roller chain and industrial components manufacturing sector, which reported 15-fold expansion, around Rs. 500 crore (US$ 52.63 million) in fresh investments and approximately 5,000 new jobs.

The Government is also developing the Trade Connect platform to provide product-wise and HSN-code-wise information on destination-country tariffs, FTA opportunities and procedures for availing FTA benefits. The platform is envisaged to use digital and artificial intelligence-enabled tools to help businesses identify export opportunities and infrastructure gaps. Discussions during the workshop covered trade documentation, logistics, FTA utilisation, domestic supply chains, standards, testing infrastructure and regulatory certainty, with participation from sectors including pharmaceuticals, textiles, man-made fibres, copper, automotive and engineering, air-conditioners and logistics, along with MSMEs and women entrepreneurs. Industry representatives also highlighted the need for greater interoperability among government systems and foreign trade platforms, including digital transmission and verification of Certificates of Origin under FTAs. Presentations covered Startup India, intellectual property rights, investment facilitation, the National Single Window System, industrial infrastructure and reforms related to the Petroleum and Explosives Safety Organisation. The interaction reaffirmed the Government’s focus on strengthening Government–industry collaboration, domestic manufacturing, supply chains and Indian enterprises’ participation in global markets.

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