Sharma, top industrialists to meet on Aug 10 to discuss FTP

Last Updated: Monday, August 3, 2009 - 14:42

New Delhi: The Board of Trade, which boasts
noted industrialists like Anand Mahindra, Ajim Premji and YC
Deveshwar as its members and is headed by Commerce and
Industry Minister Anand Sharma, will meet on August 10 to
discuss the forthcoming foreign trade policy.

The Board of Trade (BoT), the government`s highest
advisory body on export- and import-related issues, advises
the Centre on policy measures for preparing and implementing
both short and long-term plans for increasing exports in the
light of emerging national and international economic
situations.

"The BoT will meet on August 10," an official said.

Exporters, facing slump in demand in the major markets of
the US and EU, are expecting incentives in the foreign trade
policy (FTP), to be unveiled in the second half of the month.

The FTP broadly spells out the segments of priority in
external trade and also gives incentives and disincentives,
depending on the country`s needs.

The president or secretary-general of national chambers
like the Federation of Indian Export Organisations, CII, FICCI
and Assocham are ex-offico members of the BoT.

India`s exports are on the downslide since October 2008
due to a slump in demand in the major economies, including the
US and the European Union.

Among others, the Secretary in the Departments of
Commerce and Revenue and Ministries of External Affairs and
Textiles are members of the Board.

The government also nominates up to 25 persons, including
10 trade experts, to the BOT, which also commissions studies
for boosting India`s external trade.

The country managed to post exports worth USD 168.7
billion in 2008-09, which is a meagre 3.4 percent over the
previous fiscal.

The government had appointed Sharma as the chairman of
the advisory body, replacing noted industrialist Kumar Manglam
Birla.

Bureau Report



First Published: Monday, August 3, 2009 - 14:42

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