On Thursday, Prime Minister Narendra Modi said the government had removed more than 32,000 unrequired compliances. He said this while inaugurating the new building of the Ministry of Commerce, Vanijya Bhawan.
He said the new Bhawan would greatly benefit those associated with the trade, business and micro, small and medium enterprises (MSME) sectors.

He said taxpayers are respected when projects are completed within the stipulated deadlines. PM Modi called on exporters and the industry to set long-term export targets for themselves and brief the government on ways to achieve those numbers.

The PM also launched the NIRYAT (National Record of Import-Export for Yearly Analysis of Trade) portal, which aims to provide stakeholders with a one-stop platform for all necessary information related to India’s foreign trade.

Apart from job creation, exports play a key role in transforming developing countries into developed countries, he added. “Last year, India’s exports reached $670 billion despite global disruptions. Achieving the new target will take a collective effort. Industry, exporters and the Export Promotion Council are all here. I will urge them to address not only short-term problems but also the long-term problem of their export targets,” he said.