Question:

Will the Minister of Commerce and Industry be pleased to state:

(a) the name of specific sectors or industries identified for boosting trade and investment
focusing on 12 countries and measures being taken to facilitate their growth;

(b) the criteria used to identify the 12 countries that have been given priority for action;

(c) the specific steps being taken to attract foreign investment from the identified countries;

(d) whether there are any plans for bilateral trade agreements with these countries to
enhance trade relations; and
(e) the support or incentives that will be provided to domestic industries and businesses to
encourage trade and investment with these countries?

Answer

THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY
(SHRI SOM PARKASH)

(a) to (e): The Ministry of Commerce & Industry is entrusted with the task of
formulating and monitoring Foreign Trade Policy (FTP), multilateral and
bilateral commercial relations, export promotion, trade facilitation etc.
The Ministry also promotes Industrial Development of the country by
facilitating Investments in new and upcoming technology, accelerating
Foreign Direct Investment (FDI) and supporting a balanced
development of Industry & Trade.

In order to increase and promote Trade & Investment in the country, the
Ministry held consultations with relevant stakeholders i.e. Industry
Chambers, Export Promotion Councils, Invest India etc. The approach
includes data on the country’s FDI signals, relocation signals,
diversification strategy etc. On basis of these,multiple priority countries
are identified and prioritized by the Ministry. The major trade
events/fairs/roadshows for participation in the respective
regions/territory have also been identified.