Commerce Ministry adds one more MSME association as representative in BoT

New Delhi, Aug 2 (KNN) In order to get more representations from the Micro, Small and Medium Enterprises (MSME) sector to boost exports, the Commerce and Industry Ministry has added another MSME association, Laghu Udyog Bharti, in the Board of Trade constituted earlier this year.

"In order to give appropriate representation to MSME sector, it has been decided to include President of Laghu Udyog Bharti, New Delhi, as ex-officio member of BoT," Director General of Foreign Trade (DGFT) said in a trade notice.

The move assumes significance as MSME (micro, small and medium enterprises) sector contributes about 45 percent to the country's total exports.

The Board held its last meeting in April here.

The objective of the Board of Trade is to have continuous discussion and consultation with trade and industry.

The Federation of India Micro & Small and Medium Enterprises (FISME) is also a member of BoT.

The BoT advises the government on policy measures related to foreign trade policy in order to achieve the objective of boosting India's trade.

The reconstructed BoT would now have 19 members from industry and academia (non-official members); 32 heads of trade and industry associations (ex-officio members); and 20 top officials including 13 secretaries to government of India, Deputy Governor of RBI, Railway Board Chairman and National Highways Authority of India Chairman.

Besides, the Director General of Foreign Trade is the member secretary of the Board. (KNN Bureau)