PHD Chamber hails Government interaction with Industry

No.PR-54

September 11, 2019

New Delhi

PHD Chamber hails Government interaction with Industry

While appreciating the interaction of the Ministry of Commerce and Industry, Government of India with Industry stakeholders on regulatory instruments for formulation and implementation of an effective trade policy and development strategy today in the Ashok Hotel, New Delhi, Mr. Sanjay Aggarwal, Vice President , PHD Chamber of Commerce and Industry said that trade remedial measures are crucial for nascent domestic producers especially for Micro, Small & Medium Enterprises (MSMEs) as protectionism across the world is increasing in a press statement issued here today.

There is a need to promote the import of technology rather than products especially in the telecom and IT sector to strengthen indigenous industry and generate employment opportunities for the growing young workforce, said Mr. Sanjay Aggarwal.

Mr Sanjay Aggarwal, Vice President, PHD Chamber appreciated the Hon’ble Commerce and Industry Minister Shri Piyush Goyal ji for taking up the suggestions provided by the PHD Chamber of Commerce and Industry.

We appreciate the intent of the Government to create a corruption free environment and intact trade remedial measures for the promotion of our exports, said Dr Mahesh Y Reddy, Secretary General, PHD Chamber.

As the protectionism is coming full circle now, we should be attentive to create a strong and resilient business environment and trade remedial measures at this juncture becomes crucial for sustaining growth of industry and economy, said Dr Mahesh Y Reddy, Secretary General, PHD Chamber.

World trade and economic scenario has become very dynamic, at this juncture, domestic capacities should be strengthened and enhanced to stop unwanted surge in imports, said Mr Sanjay Beswal, Co-Chairman, Foreign Trade and Investment Committee, PHD Chamber.

India should retaliate against the non tariff measures used by various economies on India’s exports, said the industry body PHD Chamber of Commerce and Industry

Hon’ble Commerce and Industry Minister insisted the industry stakeholders to share their country specific issues and concerns impacting the trade scenario.

Hon’ble Minister asked the PHD Chamber to submit a detailed proposal suggesting increase of importing technology, easing environmental clearance permissions for investments and reforming the process under Advance Authorization Licenses (AAL).