Newly Constituted Board of Trade first meeting held in New Delhi

Tags: place in news Economy/Finance

The first meeting of the newly constituted Board of Trade was held in New Delhi on 13 September 2022. The meeting was presided over by the Union Minister for Commerce and Industry Piyush Goel.

The Board of Trade meeting focused on export target setting, the new Foreign Trade Policy (2022-27), and the strategies and measures to be taken in order to take forward domestic manufacturing and exports.

IMPORTANT FACTS -

Board of Trade and its functions :

• The Board of Trade was set up by the government of India by  merging Council for Trade Development and Promotion with Board of Trade,
•  The Board of Trade 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 Union Territories (UT) for articulating state-oriented perspectives on Trade Policy. 
• It also acts as a platform to the Government of India for appraising State Governments and UT 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.