{"id":201704,"date":"2022-08-24T18:29:29","date_gmt":"2022-08-24T12:59:29","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=201704"},"modified":"2022-08-24T18:29:29","modified_gmt":"2022-08-24T12:59:29","slug":"commerce-minister-releases-report-on-restructuring-of-department-of-commerce","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/commerce-minister-releases-report-on-restructuring-of-department-of-commerce\/","title":{"rendered":"Commerce Minister releases report on \u2018Restructuring of Department of Commerce&#8217;"},"content":{"rendered":"\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">The post is based on the article<\/span><b> \u201c<\/b><b>Commerce Minister <\/b><b>releases report on\u00a0 Restructuring of Department of Commerce\u201d <\/b><span style=\"font-weight: 400;\">published in<\/span><b> PIB <\/b>on<b> 23rd August 2022.<\/b><\/p>\n<h5><b>What is the News?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">The Union Minister of Commerce and Industry has released the \u2018Department of Commerce Restructuring Dossier\u2019.<\/span><\/p>\n<h5><b>What is the purpose of the \u201cDepartment of Commerce Restructuring Dossier\u201d Report?<\/b><\/h5>\n<p><b>Aim: <\/b><span style=\"font-weight: 400;\">To prepare India to become a key global player in world trade.\u00a0<\/span><\/p>\n<p><b>Pillars: <\/b><span style=\"font-weight: 400;\">The restructuring rests on 5 major pillars:<strong> 1)<\/strong> Increasing India&#8217;s share in global trade, <strong>2)<\/strong> assuming the leadership role in multilateral organizations, <strong>3)<\/strong> democratization of trade, <strong>4)<\/strong> creating 100 Indian Brands as Global Champions and <strong>5)<\/strong> setting up Economic Zones in India to strengthen the manufacturing base and attract greater investments to India.<\/span><\/p>\n<h5><b>What are the steps planned as part of the restructuring of the Department<\/b><b>\u00a0of Commerce?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">\u2013 A <strong>d<\/strong><\/span><span style=\"font-weight: 400;\"><strong>edicated Trade Promotion Body<\/strong> will be set up to drive the formulation &amp; execution of the promotion strategy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 <strong>Digitization<\/strong> of trade facilitation processes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 A <strong>Trade Intelligence &amp; Analytics wing<\/strong> is proposed to be set up for in-house analytics and dissemination capabilities. Trade Watch Tower within the wing will proactively identify market risks and opportunities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 <strong>Capacity building<\/strong> of Indian Trade Service to drive specialization &amp; institutional memory.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article \u201cCommerce Minister releases report on\u00a0 Restructuring of Department of Commerce\u201d published in PIB on 23rd August 2022. What is the News? The Union Minister of Commerce and Industry has released the \u2018Department of Commerce Restructuring Dossier\u2019. What is the purpose of the \u201cDepartment of Commerce Restructuring Dossier\u201d&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/commerce-minister-releases-report-on-restructuring-of-department-of-commerce\/\">Continue reading <span class=\"screen-reader-text\">Commerce Minister releases report on \u2018Restructuring of Department of Commerce&#8217;<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[3590],"class_list":["post-201704","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-pib","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704734060},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/201704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=201704"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/201704\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=201704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=201704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=201704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}