India recently merged the Council of Trade Development and Promotion (CTDP) with the Board of Trade for better coherence in consultation process with all stakeholders for promoting exports and imports. The new forum will remain as Board of Trade and will work with ten terms of references, according to a notification of the Directorate General of Foreign Trade (DGFT). The new board, to be chaired by commerce and industry minister, would provide a platform to states and union territories for articulating their perspectives on trade policy and help states to develop and pursue export strategies in line with the national foreign trade policy.
The forum would advise the government on policy measures for preparation and implementation of short- and long-term plans and also review export performance of various sectors, identify constraints and suggest industry specific measures to optimise export earnings and to examine existing institutional framework for imports and exports. The board members will include minister of state for commerce and industry, state trade ministers, secretaries of different departments like revenue, commerce, health and agriculture, NITI Aayog chief executive officer, the deputy governor of the Reserve Bank of India and the chairman of the Central Board of Indirect Taxes and Customs.
