Page 34 - NIS English 16-31 July 2022

Karnataka on Path of Progress
Nation Vanijya Bhawan - ‘NIRYAT’ Portal

THE COUNTRY PROGRESS TO GET

IMPETUS IN EVERY RELATED FIELD

Commerce plays a significant role in the progress of a nation. The Ministry of Commerce and
Industry has been promoting the economic development of our country for many decades.
India has embarked on a journey of citizen-centric rule in the last 8 years. Taking another
important step in this direction Prime Minister Narendra Modi on June 23 inaugurated the
new premises of the Ministry of Commerce and Industry, Vanijya Bhawan, and launched
the NIRYAT portal. Both represent positive changes in our governance related to trade and
commerce and represent our aspirations for a self-reliant India ...

ith a visionary ambition to make it in the field of commerce and exports.
easier to do business in India, over two Inaugurating the new premises of the Ministry
Wthousand barriers have been removed of Commerce and Industry 'Vanijya Bhavan'
alongwith eliminating more than 25 thousand and launching a new portal-(NIRYAT- National
compliances by finding a permanent solution for Import-Export Annual Trade Analysis Record),
them. When the new system of one nation-one Prime Minister Narendra Modi said, "Last year
tax was implemented, the number of approvals the country decided that despite every challenge
required to start a business was reduced from 14 400 billion dollars, which equals Rs 30 lakh crore,
to 3. Corporate tax is at an all-time low, while the of merchandise exports has to be crossed. But
impact of reforms for the single-window system we also surpassed that and set a new record of
and FDI was visible in the ranking of Ease of 418 billion dollars, or Rs 31 lakh crore in exports.
Doing Business. India was ranked 142 in 2014, ” Encouraged by this success of the past years,
while in 2020 it improved its ranking significantly the government has now increased its export
to reach the 63rd spot. That is why with the targets and doubled its efforts to achieve them,
tireless efforts of the Government of India in the in which the new 'Vanijya Bhavan' and 'NIRYAT'
last 8 years, the country is reaching new heights portal will be very helpful. At the same time,

32 New India Samachar July 16-31, 2022