The commerce ministry is trying to address issues pertaining to the promotion of exports through ecommerce medium, a senior government official has said. Director General of Foreign Trade (DGFT) Mr. Santosh Kumar Sarangi also said that while the USD $2 trillion export target by 2030 is ambitious as it entails an annual growth of 14.5 per cent (CAGR), it is not impossible. We are trying to address issues on seamless e-commerce for export promotion. We are in touch of the Department of Revenue, RBI, Ice gate, and the Department of Post on the issues which entails remission of duties and incentives, ensuring postal bills flows into Ice gate, building a regulatory system which addresses return back, etc, he was quoted by TPCI in a release. The DGFT was addressing the TPCI's inaugural edition of India Business and Trade Annual Conclave 2023 here on May 23. The Trade Promotion Council of India (TPCI), government, industry, and academic deep dive to explore ways to reach USD 2 trillion in exports. "Research reveals a positive correlation between higher exports and higher per capita income. For achieving the $2 trillion target, India is focusing on both demand and supply side aspects with respective policies,he added. Mr. Sanjeet Singh, Senior Adviser, NITI Aayog, and Joint Secretary in the External Affairs ministry Mr. Noor Rahman Sheikh also participated. During his address, Mr. Mohit Singla, Chairman, Trade Promotion Council of India, 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. The conclave will also emphasise on how the industry will benefit from the initiatives taken by the government, focusing on emerging areas of growth and potential, Mr. Singla said. TPCI is an apex trade and investment promotion organization. (ICE NEW DELHI)

Fonte notizia: The Economic Times