EICI praises Commerce Ministry’s WTO initiative
The Express Industry Council of India ( EICI) has commended Anand Sharma, the Minister of Commerce and Industry and his core team led by SR Rao, Commerce Secretary and Rajeev Kher, Additional Secretary on their success at the recently-held Bali meet of WTO. “It is a fine balance between the need to ensure India’s sovereign right to an independent food-support programme, while at the same time, keeping in view the urgent need for trade facilitation that would ensure significant gains to the global economy,” said Vijay Kumar, Chief Operating Officer, EICI.
According to EICI, the creation of a secure, predictable, and efficient system governing movement of goods across borders by reducing transaction costs for businesses, not just in India, but globally will initiate a great beginning. “Reduced transaction costs, would have special meaning for those small and intermediate scale entrepreneurs who are often unable to participate in global trade networks due to high costs of trading across borders,” added Kumar.
Vijay Kumar Chief Operating Officer,