Ministry of Commerce and Industry

ministry of commerce and industry

The Minister of Commerce and Industry is the major of the Ministry of Commerce and Industry and one of the cabinet ministers of the Government of India. The pioneer Minister of Commerce and Industry of independent India was Syama Prasad Mukherjee. The present Minister is Suresh Prabhu of the Bharatiya Janata Party and he has held office since 03 September 2017.

The vision of the Department

To make India a main player in the world trade by 2020 and assuming a significant role in the international trade bodies.

 The mission of the Department

To double India’s exports of goods and services by the end of 12th Five Year Plan period, over the level achieved at the end of the 11th Five Year Plan period. The long-term goal would be doubling India’s share in a Global trade by end of 2020 through the adoption of appropriate strategies.

 Functions and Activities

The importance of the Department of Commerce is the regulation, development, and promotion of India’s international trade and commerce by the formulation of appropriate international trade & commercial policy and implementation of the various provisions thereof.

 The major role of the Department is to facilitate the creation of an enabling environment and infrastructure for accelerated growth of international trade.

The Department formulates implements and monitors the Foreign Trade Policy which provides the primary framework of policy and strategy to be followed for promoting exports and trade.

The Trade Policy is periodically reviewed to incorporate altered necessary to take care of emerging economic scenarios both in the domestic and international economy. Besides, the Department is also entrusted with responsibilities concerning to multilateral and bilateral commercial relations, Special Economic Zones, state trading, export promotion & trade facilitation, and development and regulation of certain export-oriented industries and commodities.

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