Lok Sabha Question No. 962 (UNSTARRED), answered on 2023-07-26
Subject: Promotion of Trade and Investment
Ministry: COMMERCE AND INDUSTRY
Asked by: Sanjay Sadashivrao Mandlik, Sushil Kumar Singh, Bidyut Baran Mahato, Sudheer Gupta, Sukanta Majumdar, Vinod Kumar Sonkar, Sambhajirao Mane Dhairyasheel, Prataprao  Jadhav, Raja Amareshwara Naik, Bhola Singh, Shrirang Appa Barne

## GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT FOR PROMOTION OF INDUSTRY AND INTERNAL TRADE

## LOK SABHA

UNSTARRED QUESTION NO. 962.

TO BE ANSWERED ON WEDNESDAY, THE 26 TH  JULY, 2023.

## PROMOTION OF TRADE AND INVESTMENT

## 962.   SHRI SANJAY SADASHIVRAO MANDLIK:

SHRI SUSHIL KUMAR SINGH:

SHRI BIDYUT BARAN MAHATO:

SHRI SUDHEER GUPTA:

DR. SUKANTA MAJUMDAR:

SHRI VINOD KUMAR SONKAR:

SHRI DHAIRYASHEEL SAMBHAJIRAO MANE:

SHRI PRATAPRAO JADHAV:

SHRI RAJA AMARESHWARA NAIK:

SHRI BHOLA SINGH:

SHRI SHRIRANG APPA BARNE:

Will the Minister of COMMERCE AND INDUSTRY be pleased to state:

## वाणिज्य एवं उद्योग मंत्री

- (a) whether  the  Ministry  has  worked  out  a  detailed  plan  to  promote  trade  and investment in the country and identified 12 countries for priority action;
- (b) if so, the details thereof and the salient features of the said plan;
- (c) whether  the  plan  was  formulated  by  a  task  force  comprising  officials  from  the Ministry, Indian missions abroad and Invest India;
- (d) if so, whether the task force has identified calendar of activities for these 12 priority nations;
- (e) if  so,  whether the  plan  was prepared after an in-depth analysis of export-import trends,  outbound  investments  trends  and  strategic  engagements  with  over  20 countries;
- (f) if so, whether the Ministry proposes to organise road shows in different countries encompassing investment and trade promotion engagements; and
- (g) if so, the details thereof and the steps being taken by the Ministry in this regard?

## ANSWER

## वाणिज्य एवं उद्योग मंत्रालय में राज्य मंत्री ( श्री सोम प्रकाश ) THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY (SHRI SOM PARKASH)

- (a) to (g) :  Ministry of Commerce & Industry is formulating, implementing and monitoring Foreign  Trade  Policy  (FTP),  multilateral  and  bilateral  commercial  relations, export  promotion,  trade  facilitation  and  regulation  of  certain  export-oriented Industries and commodities and is also responsible for the Industrial Development  of  the  country  by  facilitating  Investment  in  new  and  upcoming technology,  accelerating  Foreign  Direct  Investment  (FDI)  and  supporting  a balanced development of Industry & Trade.

The  Ministry  has  made  an  intensive  outreach  plan  to  increase  Trade  & Investment in consultation with all stakeholders i.e. Industry Chambers, Export Promotion Councils, Invest India etc.

The strategy is based upon import - export trends, Outbound Investment trends, and strategic engagements with select priority countries, targeting approach/methodology included research on the country's FDI signals, relocation signals, diversification strategy and FDI outflow comparative analysis. Research on the key driving sectors of the respective state/country and a study of GDP review documents, and export trends and its potential was conducted to identify key focus sectors. Multiple priority countries were identified on the basis of export, trade and Investment potential.

The  major  trade  events/fairs/roadshows  for  participation  in  the  respective country/territory have also been identified as a part of this exercise.

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