Board of Trade Meeting Aims to Boost India's Exports

The Board of Trade meeting, chaired by Commerce and Industry Minister Piyush Goyal, is scheduled for September 13 in Mumbai. The meeting will discuss export-related issues, launch a grievance resolution video link for stakeholders, and aim to create a business-friendly environment to boost India's exports.

The Board of Trade meeting, set to be chaired by Commerce and Industry Minister Piyush Goyal, is slated for September 13 in Mumbai.

Headed by Minister Goyal, the board comprises members from various states, Union territories, and senior officials from both public and private sectors.

During the meeting, representatives from export promotion councils will present their views on the export sector. Minister Goyal emphasized that export-related matters would be the focal point of the discussions and announced the launch of an open video link for stakeholders to raise issues and grievances.

This initiative aims to promote the ease of doing business, ensuring that no one needs to visit a government office for any work.

Minister Goyal highlighted the shared responsibility between the Centre and states in boosting exports, which is crucial for job creation. He urged state industry ministers and senior officials to study best practices and industrial policies from other regions to formulate effective policies. By adopting these best practices, the minister believes the country can push economic growth, manufacturing, and exports.

The minister added that providing a business-friendly environment, rather than just subsidies, is essential for industry support. A single-window system for clearances and time-bound approvals was also recommended.

The Board of Trade serves as a platform for ongoing discussions and consultations with trade and industry, advising the government on foreign trade policy to boost India's trade.

State governments and Union territories can articulate their perspectives on trade policy, while the central government can update them on international developments that affect India's trade potential. India's exports contracted by 1.5% to USD 33.98 billion in July, with a trade deficit widening to USD 23.5 billion. The country aims to achieve USD 2 trillion in goods and services exports by 2030.