The Commerce and Industry Ministry has decided to add a representative from Micro, Small and Medium Enterprise (MSME) sector in the Board of Trade (BoT), which discusses ways to boost exports, reports media.
“In order to give appropriate representation to MSME sector, it has been decided to include President of Laghu Udyog Bharti, New Delhi, as ex-officio member of BoT,” Director General of Foreign Trade (DGFT) said in a trade notice.
The move assumes significance as MSME (micro, small and medium enterprises) sector contributes about 45 per cent to the country’s total exports. The Board held its last meeting in April in New Delhi.
The objective of the BoT is to have continuous discussion and consultation with trade and industry. It advises the government on policy measures related to foreign trade policy in order to achieve the objective of boosting India’s trade.
The reconstituted BoT would now have 19 members from industry and academia (non-official members); 32 heads of trade and industry associations (ex-officio members); and 20 top officials including 13 secretaries to government of India, Deputy Governor of RBI, Railway Board Chairman and National Highways Authority of India Chairman.
Besides, the Director General of Foreign Trade is the member secretary of the Board, said media report.
