Tuesday, October 4, 2022

PM Modi Launches NIRYAT Portal, Accelerates Foreign Trade

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Niryat Portal: India has been focusing on increasing the contribution of foreign trade to the economy for the last few decades. The government has already made a number of reforms in this direction. Now the central government has taken a big step to boost foreign trade. In this context, Prime Minister Narendra Modi on Thursday launched a new export portal. All information related to India’s foreign trade i.e. import and export will be available in one place on this portal. This is considered to be an important step towards boosting foreign trade.

These are the advantages for foreign trade from export portal

Apart from this, Prime Minister Modi has also inaugurated Vanijya Bhavan. The new building will be the headquarters of the Ministry of Commerce and Industry. As for the export portal, it is designed to provide all the information related to foreign trade in one place. It will be a one-stop platform for information for all parties involved in foreign trade. Its full name is National Import-Export Record for Annual Analysis of Trade.

After inaugurating the Export Portal and Vanijya Bhavan, Prime Minister Modi said that both represent the aspirations of a self-reliant India. This will bring about positive changes in the trade and commerce sector, especially for MSMEs. People who are involved in trade, commerce and MSME sector will benefit from the new commercial building. He said that today, all the ministries, all the departments are giving priority to boosting exports. Whether it is the MSME Ministry or the Ministry of External Affairs and the Ministry of Commerce, they are all working together for the same goal.

Meanwhile, India’s exports have grown rapidly in the last few years. In May 2022, India exported .2 37.29 billion, according to the Ministry of Commerce and Industry. A year ago, in May 2021, India had exported 32 32.30 billion. This means that India’s exports have increased by 15.46 per cent in one year. For the first time, India has also achieved an export target of over 400 400 billion in a single fiscal year (FY22) in 2021-22.



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