In an effort to address challenges and enhance the country’s export performance, the Centre, state governments, and industry representatives are set to convene on 16 January for a crucial meeting chaired by Commerce and Industry Minister Piyush Goyal.
The meeting, organised by the Board of Trade (BoT), will focus on pressing issues, including challenges related to rupee payments, the necessity of global shipping, and the impacts of the Red Sea crisis, along with the uncertainties arising from the Russia-Ukraine and Israel-Hamas conflicts.
With over 135 members, the Board of Trade serves as a platform for regular discussions and consultations with trade and industry representatives. Participants include members from various states, Union Territories, and senior officials from both public and private sectors. The Board plays a vital role in advising the government on foreign trade policy measures.
The upcoming meeting provides a crucial opportunity for state governments and Union Territories to express their perspectives on trade policies, while the central government can update them on international developments influencing India’s trade potential and opportunities.
Amidst concerns over the contraction in the country’s merchandise exports, which dropped by 6.51 per cent to USD 278.8 billion in April-November 2023-24, the discussions in the meeting are expected to pave the way for collaborative strategies to revitalise and bolster India’s export sector.