Commerce ministry trying to address exports issues through ecommerce medium: Santosh Kumar Sarangi
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Pertaining to issues related to the promotion of exports, the Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi has said that the commerce ministry is trying to address these issues through ecommerce medium. He also said that while the $ 2 trillion export target by 2030 is ambitious as it entails an annual growth of 14.5 per cent (CAGR), it is not impossible. He said ‘we are in touch of the Department of Revenue, RBI, Icegate, and the Department of Post on the issues which entails remission of duties and incentives, ensuring postal bills flows into Icegate, building a regulatory system which addresses return back, etc.
The Trade Promotion Council of India (TPCI), government, industry and academic deep dive to explore ways to reach $2 trillion in exports. Research reveals a positive correlation between higher exports and higher per capita income. He added that for achieving the $2 trillion target, India is focusing on both demand and supply side aspects with respective policies.
Mohit Singla, Chairman, Trade Promotion Council of India, has said that India Business and Trade Conclave in the years to come will be at the forefront to discuss all aspects of India's foreign trade. He said the conclave will also emphasise on how the industry will benefit from the initiatives taken by the government, focussing on emerging areas of growth and potential. TPCI is an apex trade and investment promotion organization.
