Government Constitutes the Board of Trade

The government has reconstituted the Board of trade headed by the commerce minister.

Flash points

• Board of Trade- It is a advisory body consisting of representatives from Industries headed by the Commerce Minister
• The board is reconstituted as per the provisions of Foreign Trade Policy Statement 2015-2020
• The first meeting will be held on April,6

Functions of the board

• Objective- To have continuous discussion and consultation with trade and industry
• It should advise the government on policy measures related to foreign trade policy including preparation and implementation of both short- and long-term plans for increasing exports
• The board has to review the export performance of various sectors, identify constraints and suggest industry-specific measures to optimise export earnings
• The move was taken following the consecutive fall in the India’s exports for the 15^th month
• Exports fell 6% in February from a year ago to $20.73 billion

Key points

• Union Minister of Commerce– Nirmala Sitaraman