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Shri Kamal Nath, Union Minister of Commerce & Industry, has reconstituted the Board of Trade with effect from April 1, 2005, in order to ensure a continuous dialogue with trade and industry. The Board of Trade would inter-alia advise the government on policy measures connected with the Foreign Trade Policy in order to achieve the desired objective of boosting India’s exports.
In a departure from the past practice when the Board of Trade used to be headed by the Minister himself, Shri Kamal Nath has instead designated an eminent representative of trade and industry, Shri Kumaramangalam Birla, to be chairman of the Board.
The composition of 38-Member Board, headed by Shri Birla would be as follows: (Non-Official Members): (1) Mr. Ishaat Hussain, Tata Sons (2) Mr. Baba Kalyani, Bharat Forge (3) Mr. Malvinder Singh, Ranbaxy (4) Mr. Erfan Allana, Chairman, Allana Sons (5) Mr. Jagdish Khattar, MD, Maruti Udyog (6) Mr. Ravi Raheja, President, Shoppers Stop Ltd. (7) Mr. Prashant Ruia, ESSAR Group (8) Mr. A.C. Muthiah, SPIC (9) Mr. Harsh Neotia, Gujarat Ambuja (10) Mr. Rana Kapoor, YES Bank (11) Mr. Swaminathan S. Anklesaria Aiyar, Economist (12) President, CII (13) President, FICCI (14) President, FIEO (15) President, ASSOCHAM (16) Chairman, NASSCOM (17) Chairman, Gems & Jewellery EPC (18) Chairman, Apparel Export Promotion Council (19) Chairman, Texprocil (20) Chairman, SRTEPC (21) Chairman, HHEC (22) President, The Seafood Exporters Association of India (23) Chairman, Council of Leather Exports (24) Chairman, Chemexcil (25) Chairman, Pharmexcil (26) Chairman, CAPEXIL (27) Chairman, Electronics & Software Council and (28) President, EPC for EOUs; (Official Members): (1) Secretary, Department of Commerce (2) Secretary, Department of Revenue (3) Secretary (ER), Ministry of External Affairs (4) Secretary, Ministry of Textiles (5) Chairman, India Trade Promotion Organisation (6) Chairman & Managing Director, Export Credit Guarantee Corporation (7) Managing Director, EXIM Bank (8) Deputy Governor, Reserve Bank of India, Central Office, Mumbai (9) Secretary, Shipping, Government of India and (10) Director General of Foreign Trade (DGFT) as Member Secretary
The terms of reference of the Board of Trade would be: (1) To advise the Government on Policy measures for preparation and implementation of both short and long term plans for increasing exports in the light of emerging national and international economic scenario; (2) To review export performance of various sectors, identify constraints and suggest industry specific measures to optimise export earnings; (3) To examine the existing institutional framework for imports and exports and suggest practical measures for further streamlining to achieve the desired objectives; (4) To review the policy instruments and procedures for imports and exports and suggest steps to rationalise and channelise such schemes for optimum use; (5) To examine issues which are considered relevant for promotion of India’s foreign trade and to strengthen the international competitiveness of Indian goods and services; and (6) To commission studies for furtherance of the above objectives;
The Board will meet at least once every quarter and make recommendations to Government on issues pertaining to its terms of reference.
The Board of Trade will have the power to set up sub-committees and to co-opt experts to these, to make recommendations on specific sectors and objectives.
SB/MRS
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