Board of Trade to meet in Mumbai to discuss ways to boost exports on Sep 13

The Board of Trade meeting to be chaired by Commerce and Industry Minister Piyush Goyal is likely to be held on September 13 in Mumbai.

Headed by the minister, the board includes participants from various states, Union territories, and senior officials from the public and private sectors.

In the meeting, representatives of export promotion councils present their views on the export sector.

Talking about the meeting, Goyal said, "Export-related matters will be discussed".

He also announced the launch of an open video link for stakeholders to raise their issues and resolve grievances.

The initiative aims to promote ease of doing business and "no one should have to go to a government office for any work".

"Export promotion is not the only responsibility of the Centre. Both centre and state have to work together in boosting exports as it will help in the creation of jobs also," Goyal said here.

He was addressing state industry ministers and senior officials.

The minister suggested the states study best practices and industrial policies of other regions and then accordingly frame their respective policy.

"Following best practices will help in pushing the country's economic growth, manufacturing and exports," he said, urging them to support and handhold industries.

He added that only subsidies will not help the industry and the states have to provide a business-friendly environment, single window system clearances and time-bound approvals.

The Board of Trade provides an opportunity to have regular discussions and consultations with trade and industry and advise the government on policy measures on foreign trade policy to achieve the objective of boosting India's trade.

It also provides a platform for state governments and Union territories to articulate their perspective on trade policy and also for the central government to apprise them about international developments affecting India's trade potential and opportunities.

After remaining in the positive zone for three months, India's exports contracted 1.5 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.

Exports during April-July this fiscal year surged 4.15 per cent to $144.12 billion, and imports grew 7.57 per cent to $229.7 billion.

India is targeting $2 trillion worth of goods and services exports by 2030.