NITI Aayog’s Workshop Emphasizes Inclusive Trade for Growth and Prosperity
TFP Bureau, New Delhi; Nov 7, 2023: NITI Aayog, in a bid to advance inclusive trade for fostering growth and prosperity, conducted a thematic workshop titled “Inclusive Trade for Growth & Prosperity.” This session was a follow-up initiative stemming from the New Delhi Leader’s Declaration (NDLD) during India’s G20 Summit presidency, focusing on strengthening the global trading system.
The workshop primarily centered around widening domestic outreach and promoting the implementation of the NDLD outcomes in the realm of inclusive trade for prosperity and resilient supply chains. The focus remained on building a trade landscape that’s robust, balanced, sustainable, and beneficial for all stakeholders.
Shri BVR Subrahmanyam, CEO of NITI Aayog, stressed the importance of a fair, inclusive trading system that acts as a propeller for economic growth and prosperity. He highlighted the necessity for India to integrate into global value chains (GVCs) and adapt swiftly to the changing global trading systems.
Dr. Arvind Virmani, a respected member of NITI Aayog, highlighted the need to strengthen labor-intensive supply chains, institutional frameworks for policy structuring, taxation system simplification, and emphasized the importance of integrating payment and export credit systems, especially for micro, small, and medium enterprises (MSMEs). He also underlined addressing anti-dumping concerns and the necessity of fostering Free Trade Agreements (FTAs) with potential partners.
The discussions in the workshop ranged from mapping global value chains, logistical enhancement for efficient supply chains, fostering inclusive trade, bolstering capacity and infrastructure development for less developed countries, reducing non-tariff barriers, mobilizing resources for aid-for-trade, and integrating districts into the supply chain to promote them as export hubs. The sessions delved into areas of skill development, climate-resilient agriculture, and the digitalization of trade-related documentation.
NITI Aayog plans to organize a series of thematic workshops in alignment with the agendas of the New Delhi Leader’s Declaration (NDLD) to develop actionable strategies and plans to drive growth and prosperity. This includes workshops focused on Sustainable Development Goals (SGDs), Tourism Roadmaps, Digital Public Infrastructure, India and African Union Cooperation, Data for Development, and Women Led Development, among other significant areas.
