Govt to develop AI-powered platform for trade data analytics
New Delhi: The government is advancing efforts to develop an AI-driven data analytics platform to enhance trade data insights, said Commerce Secretary Sunil Barthwal, according to media reports.
"Insights into whether our growth is consistent or if resiliency has emerged in exports are now becoming available. We are working in this direction and will soon launch a platform offering enhanced data analytics," Barthwal was quoted as saying by Business Standard.
In response to calculation errors in gold import data, a committee comprising officials from the commerce and finance ministries has been established to create a mechanism for consistent and accurate data publication.
India and the United Kingdom are coordinating to resume negotiations for their proposed free trade agreement (FTA) in early February.
Talks for the agreement originally commenced in January 2022, according to a commerce department official.
Discussions on revising the India-ASEAN FTA are also progressing, with the next round of meetings scheduled from February 10 in Indonesia.
Additional Secretary Rajesh Agrawal said negotiations have progressed, but certain issues in goods remain.
Meanwhile, the India-Eurasian Economic Union (EAEU) FTA is under consideration, and the commerce department is working to finalise the terms of reference for the pact.
The EAEU includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.
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