Union Commerce Minister Shri Piyush Goyal on September 13 chaired the first meeting of the newly reconstituted Board of Trade.
Key highlights
- He said that exports have been one of the most defining features of the government’s efforts to make India a developed country by 2047.
- Shri Goyal stressed on the need to enter into more FTAs with developed nations.
- He urged participants of the Board of Trade meeting to focus on the possibilities each sector has in FTAs.
- The Board of Trade meeting focused on export target setting, the new Foreign Trade Policy (FTP) (2022-27), and the strategies and measures to be taken in order to take forward domestic manufacturing and exports.
- Board of Trade (BOT) has been constituted by merging Council for Trade Development and Promotion with Board of Trade vide notification No. 11/2015-20 dt 17th July 2019.
- The Board of Trade, inter alia, advises the Government on policy measures connected with the Foreign Trade Policy in order to achieve the objectives of boosting India’s trade.
- It provides a platform to state governments and UTs for articulating state-oriented perspectives on Trade Policy.
- It also acts as a platform to Government of India for appraising State Governments and UTs about international developments affecting India’s trade.
- It is an important mechanism for deliberations on trade related issues with industry bodies, associations, export promotion councils, and state and UT governments.
