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The Minister of Commerce and Industry said on 20th July, 2016, that the ‘Make in India’ initiative, which was launched in September 2014, facilitated the growth of FDI in the country, with the rate of FDI being increased by a rate of 46%, to USD 61.58.
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The Cabinet, on 20th July 2016, approved the constitution of a national committee for the coordination and implementation of WTO’s Trade Facilitation Treaty. The committee will be established under the chair of the cabinet secretary, and will be known as the National Committee on Trade Facilitation (NCTF). The Minister of Commerce and Industry stated that the Government has already started the process of setting up the committee.
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