New Delhi: In order to create a unique space for exhibitors from India and abroad, Rs. 2,000 crore is being spent to revamp the Pragati Maidan, said Union Minister of Commerce & Industry and Railways Piyush Goyal, in New Delhi today. Goyal was speaking at the closing ceremony of the 39th India International Trade Fair (IITF) 2019.
The Ministry of Commerce & Industry in a Press release today said that the Trade Fair this year saw a footfall of around 500,000 visitors, and that the Minister expressed hope that after the revamp of Pragati Maidan to be completed next year, it will see more than a million visitors who will be able to not only buy the unique products from different parts of the country and the world, but also have a complete experience of the city of Delhi.
Goyal said that trade helps build relationships and also helps to catalyze investments. It shows to the world the potential that India offers – a market of 1.3 billion people that businesses would like to tap into and engage with, he added.
In order to expand and strengthen the New India story, the Government is preparing to invest Rs. 100 lakh crore in infrastructure that will transform the availability and quality of infrastructure in India across all sectors of railways, airports, sea ports, electricity and oil and gas, said Goyal.
The Minister added that a 12-year plan has been drawn up for the Railways that will see an investment of Rs 50 lakh crore in different parts of the country on a Private Public Partnership (PPP) model in order to ensure that consumers get better quality of service.
Goyal reiterated that India today engages with countries from a position of strength so that India’s businesses and industries are protected and non-tariff barriers imposed by other countries do not affect India’s exports.
He added that the Ministry of Commerce & Industry is working on a plan to hold 4 mega shopping festivals to promote Indian products and services and to create more opportunities for new businesses. Goyal urged the youth of the country to become entrepreneurs and transform India.
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