<h1>India's Commerce Department Forms Advisory Group Proposing Tax Reforms and Elephant Bonds to Boost Global Trade.</h1> A High Level Advisory Group (HLAG) led by Dr. Surjit S. Bhalla has been established by the Department of Commerce to enhance India's role in global trade. The group has proposed several measures, including tax reforms, to improve export and investment channels. They recommend the introduction of Elephant Bonds, a specialized security product aimed at funding long-term infrastructure projects. Additionally, HLAG suggests reforms in the financial services framework to position India as a preferred destination for financial services. These recommendations were disclosed by the Union Minister of Finance in a written response to a parliamentary question.