Bharat Chamber of Commerce in partnership with the Indian Council of Arbitration organised a Symposium on ‘Unravelling India’s New Foreign Trade Policy for India’s Growth’ at ‘The Oberoi Grand’, Kolkata.

The Guest-in-Chief at the Symposium was Shri Sunil Barthwal, IAS, Commerce Secretary, Ministry of Commerce and Industry, Government of India.

According to Shri Barthwal, the new Foreign Trade Policy (FTP) was developed with the overarching goals of increasing export competitiveness, finding methods to facilitate exports, and promoting trade. The primary goals of the new FTP are to increase manufacturing competitiveness and broaden their involvement in those value chains.

The Commerce Secretary explained the new features of the FTP and stated that free trade agreements (FTAs) are being drafted to allow professionals to travel freely between nations. To pinpoint areas for economic growth, the Commerce Ministry communicates with other ministries and agencies regularly. In this context, negotiations to produce battery storage systems for EVs are ongoing with Latin American nations like Peru and Chile.

Shri Barthwal praised the ICA for taking the initiative in resolving conflicts in both domestic and international business challenges.

Before wrapping up, Shri Barthwal restated the FTP’s goal of achieving US$ 2 trillion in export revenue.

Also gracing the occasion was Shri N. G. Khaitan, President of the Chamber and ICA, Arun Chawla, Director General of ICA, and other eminent guests.

A musical performance by Sourendro & Soumyojit kept the audience mesmerized at the event.

Priyanka Dutta