Commerce and Industry Minister Piyush Goyal has declared India’s intention to implement reciprocal non-tariff barriers (NTB) and encouraged the industry to abandon the subsidy mind-set.
“I’ve categorically told other countries if you impose one NTB, we will impose two,” Goyal stated while chairing the second meeting of the reconstituted Board of Trade.
Goyal urged the industry to collaborate by sharing a list of measures that India can raise with respective nations.
Many of India’s exports face NTBs, such as prior registration requirements, elevated pesticide levels, and adherence to domestic standards in numerous countries.
Expressing the need to break away from the subsidy mind-set, Goyal stressed the importance of India standing on its own capabilities to compete globally.
He sought industry suggestions to enhance ease of doing business, reduce compliance and logistics costs, decriminalise minor offenses, and attract investments.
Goyal emphasised the discontinuation of manual interfaces and interventions, including those related to commodity boards like the tea board.
He urged the pharmaceutical industry to address issues domestically without escalating them to the government, emphasising the government’s role as a facilitator.
The Board of Trade meeting concentrated on reviewing export performance to achieve the USD 2 trillion export target by 2030. It also discussed strategies and measures to propel export growth forward.
The meeting saw the participation of state ministers, senior officials from key line ministries, major trade and industry bodies, export promotion councils, and industry associations.