Board of Trade deliberate on export target setting and new Foreign Trade Policy

New Delhi, Sept 14 (KNN) The Board of Trade’s first meeting focused on export target setting, the new Foreign Trade Policy (FTP) (2022-27), and the strategies and measures to be taken in order to take forward domestic manufacturing and exports.

Chairing the meeting on Tuesday Union Minister Piyush Goyal said that exports have been one of the most defining features of the government's efforts to make India a developed country by 2047, as per a press release.

In his opening remarks the minister said that global confidence in India’s prospects for growth were truly immense and called on the domestic industry to overcome all weaknesses when it comes to grabbing the plethora of growth opportunities available to the nation.

He spoke of the need to find ways to encourage people to comply and bring in transparency and ease of doing business. India should become an honest country, he added.

The Minister further stressed on the need to enter into more FTAs with developed nations. He urged participants of the Board of Trade meeting to focus on the possibilities each sector has in FTAs.

Concluding his address, he said all the issues raised by the participants will be addressed and the suggestions made by them in the Meeting today will be considered.   

There were 29 new non-official members who were also invited for the first time in this Board of Trade meeting.

During the Board of Trade meeting, presentations were made on a variety of subjects such as India’s Import/ Export Performance, restructuring of the Department of Commerce, FTAs and way forward, States export performance, District as Export Hubs, new proposed Foreign Trade Policy, trade remedial, trade facilitation measures undertaken by customs, Government e-Marketplace etc.

While Prashant Patel, President of Federation of Micro and Small & Medium Enterprises (FISME) raised issues related to MSMEs, representatives of CII, FICCI & ASSOCHAM focused on issues of large companies.

Ministers from states made interventions in the meeting, giving their state-specific suggestions, and also expressed their support to the central government initiatives in promoting the external trade.  (KNN Bureau)