Piyush Goyal, Retail News, ET Retail


NEW DELHI: Trade and Industry Minister Piyush Goyal said on Friday that there are many non-tariff barriers to be removed and that wherever India faces unfair treatment on the trade front, it will take reciprocal action.

Non-tariff barriers to trade are restrictive practices that hamper the flow of imports and exports.

“Business today requires a lot of study, a deep dive into the practices followed by other countries. There are a lot of non-tariff barriers that need to be investigated, we need to work to resolve those barriers. Everywhere we find unfair and unfair treatment. in India, India will have to take reciprocal measures “, he declared during the 54th convocation of the Indian Institute of Foreign Trade (IIFT).

The minister said that India is negotiating free trade agreements with several countries, including the United Kingdom, United Arab Emirates and Australia, and that the young talents of the IITI can help realize the program of transformation of India’s international trade.

Regarding the country’s exports, Goyal exuded confidence that the country will reach the target of $ 400 billion for this fiscal year.

“We are confident of achieving it this year. We have already made $ 197 billion in six months. We aspire to reach $ 1 trillion in the near future, each for goods and services … For that we we need thousands of young boys and girls graduating from IITIF, ”he added.

Goyal also called for free trade within a rules-based multilateral trading system, with honesty and transparency as core values.

In addition, he said during the discussions on the FTA, the subject of double degrees and collaborations with the IIFT has been discussed.

“I urge you to take the dual degree process forward, accelerate it and identify institutions of excellence across the world … Australia, UK and UAE have already shown a strong interest in collaborating with prominent Indian universities and institutions. and I urge the IITI to move this process forward, ”he added.

On granting the institute of national significance label to the IITI, he said the ministry will pursue this in the coming months through the necessary legislative changes it will demand.

On reaching the 100 crore vaccination mark, the minister said it was a symbol of India’s capacity, resilience and strength of 135 crore Indians.

“The century of vaccines is a true symbol of India’s collective wisdom. It is a victory for Make In India for the world,” he said.

Meanwhile, commenting on this milestone, PHDCCI Industrial Chamber President Pradeep Multani said it was heartening to note that the vaccination campaign had not only boosted the confidence of people, business and industry. , but had also created positive economic projections from various national and international organizations.

“The use of technology and scientific approaches for the distribution and supply of vaccines is the key to India’s vaccination campaign. Thanks to this, investors are very optimistic to invest in India as well as in some key sectors like housing, agriculture, sports as they are booming and create jobs for young people, ”Multani added.


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