PIB News Update: In order to create an unique space for exhibitors from India and abroad Rs. 2000 crore is being spent to revamp the Pragati Maidan informed Union Minister of Commerce and Industry & Railways, Piyush Goyal, in New Delhi today.
He was speaking at the closing ceremony of the 39th India International Trade Fair 2019. The trade fair this year saw the foot fall of around 5 lakh visitors and the Minister hoped that after the revamp of Pragati Maidan to be completed next year, it will see more than 10 lakh 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.
Commerce and Industry Minister 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 and engage with, added Piyush Goyal.
In order to expand and strengthen the new India story 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 the Minister. He further added that a 12-year plan has been drawn up for the railways that will see an investment of 50 lakh crore in different parts of the country on Private Public Partnership model in order to ensure that consumers get better quality of service.
Commerce and Industry Minister 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 further added that the Ministry of Commerce and 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. He urged the youth of the country to become entrepreneurs and transform India.