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Centre may set up new trade promotion body, says Piyush Goyal

Union Minister Piyush Goyal

The Centre is looking at setting up of a trade promotion body akin to Invest India which is the nodal body for investments.  Commerce and Industry Minister Piyush Goyal said that the body will enjoy independence and autonomy and would serve as a facilitation unit promoting trade from India.

Goyal, also in charge of Consumer Affairs, Food and Public Distribution and Textiles said on the last day of his US trip that the partnership between India and Indian diaspora all over the world will fast-track the country’s journey to being a developed nation.

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India’s goods and services exports have already crossed $675 billion in the last fiscal year despite challenges. Interacting with the diaspora earlier, Goyal said that India is now aiming to take international trade to $2 trillion by 2030. He had expressed confidence that India with, “huge market, transparent economic policies, rule of law, vibrant media and judiciary” will continue to remain a preferred trading partner and investment destination to the world.

Goyal added that several business persons and investors from the Indian community in the US shared their experiences with him and have given suggestions which would serve “as food for thought.” Goyal hoped they would also be stakeholders in India’s growth story with a sense of duty.