A Memorandum of Understanding (MoU) 2017-18 between India Trade Promotion Organisation (ITPO) and Department of Commerce (DoC), Government of India was signed by Shri L.C. Goyal, CMD, India Trade Promotion Organisation and Smt. Rita Teaotia, Secretary, Commerce, Govt. of India on 07.07.2017 in Udyog Bhawan.

On this occasion, Shri L.C. Goyal, CMD, ITPO mentioned that, for the year 2016-17, ITPO is expecting to achieve “Excellent” rating as per the self evaluation of MoU targets in which against the MoU target of ₹ 250 crore, the turnover is expected to be ₹ 263 crore. For the year 2017-18, the ‘Excellent’ financial target for Revenue from operations (Gross Sales) has been fixed at ₹ 228 crore. He observed that, in view of the Redevelopment Project (IECC) at ITPO, achieving various Financial/ Non-Financial targets this year will be difficult. ITPO will, however make all efforts to achieve “Excellent” rating as per the targets given by DPE for the year 2017-18 and ensure delivery of better services to all the stakeholders.

MoU sets performance targets and commitment to achieve excellent rating despite project-related implementation risks. A MoU between India Trade Promotion Organisation and the Department of Commerce sets annual performance and financial targets with self-evaluation against those targets, records an expected 'Excellent' rating for 2016-17, fixes an 'Excellent' revenue target for 2017-18, and notes that an ongoing Redevelopment Project may impede attainment of some targets while ITPO commits to striving to meet prescribed benchmarks and maintain stakeholder services.