The Prime Minister Narendra Modi laid the foundation stone for Vanijya Bhawan, a new office complex for the Union Government’s Department of Commerce, at New Delhi.
Speaking about the country’s demographic dividend, the Prime Minister said that it is our collective responsibility to fulfil the aspirations of our youth.
Vanijya Bhawan; Facts in Brief
PM said that the Vanijya Bhawan – would further facilitate elimination of silos in India’s commerce sector.
Talking of adoption of digital technology, the Prime Minister remarked that the land on which the new building is being constructed, was earlier occupied by the Directorate General of Supplies and Disposal.
This has now been replaced by the Government e-Marketplace (GeM), which has seen transactions worth Rs. 8700 crore in a short time, he added. He urged the Department of Commerce to work towards further expansion of GeM, and leverage it for the benefit of the country’s MSME sector.
He also spoke of the benefits of GST, and said the Union Government is making constant efforts to create a people-friendly, development-friendly and investment-friendly environment.
India is now among the top five fin-tech countries, globally. He said subjects such as “Ease of Trading,” and “Ease of Doing Business,” are all related to “Ease of Living” in an interconnected world.
Department of Commerce must resolve to raise India’s share in total global exports to at least 3.4 percent, from the current 1.6 percent.
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