Trade Board will meet on September 12 to discuss ways to boost exports
New Delhi, September 4 () The Trade Board (BoT) will seek views from various stakeholders, such as government departments, states, exporters and industry members, on September 12 on ways to boost exports of goods and services, an official said.
The high-level board, a senior advisory body on foreign trade, is chaired by the Minister of Commerce and Industry, Piyush Goyal.
Problems about free trade agreements and ways to contain non-essential imports would also appear at the meeting, the official said.
The government has merged the Trade Development and Promotion Council with the Trade Board to achieve greater consistency in the process of consultation with all interested parties to promote exports and imports.
The new board provides a platform for the states and territories of the union to articulate their perspectives on trade policy and help states develop and implement export strategies in line with national foreign trade policy.
In addition, the forum advises the government on policy measures for the preparation and implementation of short and long term plans.
It would also examine the export results of various sectors, identify limitations and suggest specific industry measures to optimize export revenues and examine the existing institutional framework for imports and exports.
Its members include state ministers who are in charge of commerce, secretaries of different departments such as income, commerce, health and agriculture, as well as the CEO of NITI Aayog, the RBI Deputy Governor and the CBIC President.
The presidents and presidents of the chambers of industry, among others, are ex officio members.
The meeting becomes important as shipments from some key sectors registered negative growth in July. It included gems and jewelry (- 6.82 percent), engineering items (- 1.69 percent) and petroleum products (- 5 percent), according to data from the Ministry of Commerce. During April-July 2019, exports fell 0.37 percent to USD 107.41 billion, while imports contracted 3.63 percent to USD 166.8 billion. RR SR MR MR