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PM Modi Lays Foundation Stone For New Paperless Office Of Commerce Ministry 'Vanijya Bhawan'

ANANYA BHATNAGAR | 0
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| June 22 , 2018 , 14:03 IST

Prime Minister Narendra Modi on Friday laid the foundation stone of Vanijya Bhawan, the new office complex of the Ministry of Commerce. At the event, PM Modi spoke of targeting double-digit GDP growth for breaking into the $5 trillion economy club and said India's share in world trade has to be doubled to 3.4 percent.

He said that the BJP government has in four years taken steps to ease the process of doing business in India while maintaining macroeconomic indicators like current account deficit (CAD) within limits.

The PM added, “GDP growth touched 7.7 percent in the last quarter of 2017-18 fiscal but now the time has come to look beyond 7-8 percent growth and target double-digit expansion.”

He also said that the world is watching that when will India double it’s economic growth and enter the $5 trillion economy club. The government is targeting doubling India's share in world trade to 3.4 percent by stressing on reducing dependence on imports in sectors like oil through domestic manufacturing.

Vanijya Bhawan, is the new office complex for the Ministry of Commerce. The building will approximately cost Rs. 226 crores and is supposed to be completed by December 2019. It will accommodate about 1,000 officers and other staff, and will to be environment friendly. It will be a completely paperless office with modern facilities such as smart access control, video conferencing and completely networked systems.