Government to set up Trade Facilitation Council to promote exports

The government will soon set up a Trade Facilitation Council comprising members of Centre and states to promote India’s overseas shipments.

Important points are:

• The council will be headed by Commerce and Industry Minister Nirmala Sitharaman and secretaries of key ministries and state ministers will be the members.
• The aim of the council will be facilitating trade from states in a bid to boost the country’s exports.
• Also, the aim is to achieve the USD 900 billion exports target by 2019-20.
• Commerce Secretary Rita Teaotia will hold meetings with officials from the states tomorrow to discuss the issue. They will discuss problems related with infrastructure and governance; local tax issues and its refund; and states’ regulatory environment.
• The commerce ministry is working on measures for separating exports data state wise.
• It will encourage every states for a State Trade Policy in order to streamline procedures and increase exports.
• The commerce ministry has asked states to appoint commissioners and prepare export strategy.
• So far 21 states have appointed export commissioners while 14 states including Madhya Pradesh and Gujarat have framed strategies for outward shipments.