The formulation of the plan involved a meticulous analysis of export-import trends, outbound investments, and strategic engagements with more than 20 countries.
As part of the devised plan, the commerce and industry ministry will arrange road shows in various countries, facilitating investment and trade promotion engagements. Furthermore, the ministry is urging industry players and exporters to organize internationally renowned exhibitions within India, as well as participate in fairs organized in the 12 identified countries. These initiatives aim to foster increased collaboration and market exposure for the industry and exporters.
“The exercise is part of a concerted effort of both the departments to promote trade and investments,” another official said.
According to Commerce Secretary Sunil Barthwal, the ministry has been actively developing a trade strategy with the aim of promoting exports.
As part of the trade strategy, the Department of Commerce, Department for Promotion of Industry and Internal Trade (DPIIT), Invest India, and Indian missions abroad have been directed to prioritize specific countries. Commerce Secretary Sunil Barthwal emphasized that the strategy aims to not only promote exports but also address the requirements of the domestic market.
He further highlighted the collaborative efforts between the two departments in terms of boosting investments and exports, with both actively working on a comprehensive trade and investment strategy.
As part of the trade strategy, the departments involved will also engage in participating in major international exhibitions. These exhibitions will provide a platform for teams from the concerned departments to conduct buyer-seller meetings and further promote trade and investment opportunities.
