Govt merges CTDP with Board of Trade

The government has merged the Council of Trade Development and Promotion with the Board of Trade to bring greater coherence in consultation process with all stakeholders for promoting exports and imports.

According to a notification of the directorate general of foreign trade (DGFT), the new forum will remain as Board of Trade and will work with ten terms of references.

The new board 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.

Besides, the forum would advise the government on policy measures for preparation and implementation of short and long term plans.

It would also review export performances of various sectors, identify constraints and suggest industry specific measures to optimise export earnings and to examine existing institutional framework for imports and exports.

"To bring greater coherence in consultation process, it has been decided to merge Council of Trade Development and Promotion (CTDP) with the Board of Trade and the new forum will remain as Board of Trade," DGFT said.

The board will be chaired by commerce and industry minister. Its members will include minister of state for commerce and industry and state ministers who are in charge of trade.

The official members will include secretaries of different departments like revenue, commerce, health and agriculture besides NITI Aayog CEO, Deputy Governor RBI, and CBIC chairman.

Further, the new forum would have presidents and chairpersons of industry chambers among others as ex-officio members.