Board

of Trade

1C.1

The Board of Trade shall be revamped and given a clear and dynamic role in advising government on relevant issues connected with Foreign Trade Policy. There would be a process of continuous interaction between the Board of Trade and Government in order to achieve the desired objective of boosting India’s exports.

Terms of Reference

1C.2

The Board of Trade would have the following terms of reference:

I

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 scenarios;

II

To review export performance of various sectors, identify constraints and suggest industry specific measures to optimize export earnings;

III

To examine the existing institutional framework for imports & exports and suggest practical measures for further streamlining to achieve the desired objectives;

IV

To review the policy instruments and procedures for imports & exports and suggest steps to rationalize and channelise such schemes for optimum use;

V

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.

VI

To commission studies for furtherance of the above objectives.

Composition

1C.3

Government shall nominate an eminent person or expert on trade policy to be President of the Board of Trade. Government shall also nominate 25 persons, of whom at least 10 will be experts in trade policy. In addition, Chairmen of recognized Export Promotion Councils and President or Secretary-Generals of National Chambers of Commerce will be ex-officio members.

Meetings

Sub- committee

1C.4

1C.5

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.

Secretariat and Budget Head

1C.6

The Board of Trade will have a Secretariat and Budget Head and shall be serviced by the Department of Commerce.