Merger of Council of Trade Development and Promotion with the BoT 22/07/2019 – Posted in: Daily News – Tags: ,

MERGER OF CTDP WITH THE BOARD OF TRADE

 

For: Preliminary & Mains

Topics covered: Why the merger of CTDP with BoT, Significance, CTDP, BoT

 

News Flash

The Government has merged the Council of Trade Development and Promotion (CTDP) with the Board of Trade (BoT).

  • It will bring greater coherence in the consultation process with all stakeholders for promoting exports and imports.
  • The directorate general of foreign trade (DGFT), the new forum will remain as Board of Trade and will work with ten terms of references.

 

Highlights

  • The new forum will remain as a Board of Trade.
  • The board will be chaired by commerce and industry minister.
  • Its members will include minister of state for commerce and industry and state ministers who are in charge of trade.
  • The new board would provide a platform to states and union territories for articulating their perspectives on trade policy. It may help states to develop and pursue export strategies in line with the national foreign trade policy.
  • The Board would also review the export performances of various sectors.
  • It would identify constraints and suggest industry-specific measures to optimize export earnings.
  • The Board helps in examining the existing institutional framework for imports and exports.

 

Council for Trade Development and Promotion

  • Council for Trade Development and Promotion has been constituted with effect from 3rd July 2015.
  • It ensures a continuous dialogue with State Governments and UTs on measures for providing an international trade enabling environment in the States and to create a framework for making the States active partners in boosting India’s exports.

 

Board of Trade (BOT)

  • The Board of Trade (BOT) was reconstituted on 16.07.2009 under the Chairmanship of Commerce & Industry Minister.
  • The Board of Trade, inter alia, advises the Government on policy measures connected with the Foreign Trade Policy in order to achieve the objectives of boosting India’s trade.

 

Inter State Trade Council

The Inter-State Trade Council has been set up to serve as a mechanism for institutionalized dialogue between the Union and the State/ UT in the matter relating to trade facilitation and to create a framework for making States partners in India’s export effort.

 

Source: Daily Pioneer

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