SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 29 Mar, 2024  

Goyal.9.Thmb.jpg India's trade policy is calibrated with economic growth path: Goyal

Goyal.9.new.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 28 Mar, 2024
India's trade policy is calibrated with its economic growth trajectory as it aims to achieve a target of $2 trillion in exports by 2030, Commerce and Industry Minister Piyush Goyal said on Thursday.

"Our trade policy is calibrated based on our development journey, yet open for expansion. We will be doing $2 trillion of exports by 2030 and I have no doubt we will achieve it," the minister said at a media event in New Delhi.

Goyal said that India had pulled out of the Regional Comprehensive Economic Partnership (RCEP) in 2019 due to stakeholder concerns and to protect the Indian market from being flooded by cheap Chinese goods.

He further stated that if India had not withdrawn from the RCEP, the country would not have scripted the growth story it has in recent years.

The flood of sub-standard, low-quality goods coming in from certain geographies would have killed the investment climate in the country, he added.

Goyal pointed out that even America and Europe still levy high tariffs on several products.

At the same time, he said that India needs to internationalise its economy and look at a greater degree of engagement with the world and a high growth in exports.

The minister cited the recently signed European Free Trade Association (EFTA), in which Iceland, Liechtenstein, Norway, and Switzerland, have committed an investment of $100 billion to create 1 million direct jobs in India in the next 15 years in exchange for market access.

He also said that India is open to being a part of trading blocs which include China, if the neighbouring country ensures its economic policy is transparent and complies with WTO rules.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter