The Hindu : National : Board of Trade reconstituted

Online edition of India's National Newspaper
Monday, Apr 04, 2005

National

National

Board of Trade reconstituted

By Our Special Correspondent

NEW DELHI, APRIL 3. In a clear departure from the past, the Government has reconstituted the Board of Trade with an eminent representative of Trade and Industry heading it for the first time. The leading industrialist, Kumaramanglam Birla, has been named chairman of the 38-member board reconstituted with effect from April 1.

Until its recent reconstitution, the Union Commerce Minister used to head the board.

However, Kamal Nath decided to depart from the practice and nominated Mr. Birla as the chairman.

Main role

The Board of Trade is part of the mechanism created by the Government to ensure a continuous dialogue with trade and industry. Its main role is to advise the Government on measures connected with the Foreign Trade Policy in order to achieve the desired objective of boosting India's exports.

According to an official announcement, the board has 28 non-official and 10 official members. Apart from the presidents of the three apex chambers (FICCI, CII and Assocham), representatives of other trade bodies, economists and professionals figure among the non-official members.

While Director-General of Foreign Trade (DGTF) is the member-secretary of the board, the other nine-official members included five secretaries to the Central Government besides the Deputy Governor, Reserve Bank of India, Central Office, Mumbai.

While the board will meet at least once every quarter, it will have powers to set up bus-committees and co-opt experts and make recommendations on specific sectors and trade related issues.

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