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Shri Kamal Nath, Union Minister of Commerce & industry, will inaugurate the first meeting of the reconstituted Board of Trade here on Friday, 17th June, 2005. The Board, which was reconstituted by the Minister last April, is an important forum for dialogue between government and the trade & industry on matters relating to India’s external trade, particularly in the context of boosting India’s exports. Members of the Board are also scheduled to call on the Prime Minister, Dr. Manmohan Singh, after the inaugural session.
The Board at its first meeting is expected to deliberate on export growth and strategies, including the focus areas, new policy initiatives, facilitation issues and the challenges ahead.
For the first time, the Board of Trade is headed by an eminent representative of trade and industry, Shri Kumaramangalam Birla, as per the decision taken by Shri Kamal Nath while reconstituting the Board.
Background:
The composition of the 38-member Board of Trade, headed by Shri Birla, is 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 (CLE) (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 are: (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.
SB/MRS
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