Exports board reconstituted

NEW DELHI, FEB 10: The high-level board of trade which would advise the government on short and long-term export policy measures, has bee...

NEW DELHI, FEB 10: The high-level board of trade which would advise the government on short and long-term export policy measures, has been reconstituted an its first meeting will be held here on Feb 18.

Headed by commerce minister Ramakrishna Hegde, the board, reconstituted on Feb 5, will have 44 members including top government functionaries and corporate leaders. The board was initially set up in May, 1989 to ensure continuous dialogue with trade and industry on major developments in international trade with particular reference to formulation of export strategies, an official press release said. The other terms of reference for the body were to review export performance of various sectors, identify constraints, suggest measures to maximise export earnings, examine existing institutional frame work for exports and re-examine policy instruments, incentives and procedures for exports.

Commerce secretary, revenue secretary, secretary economic relations in the external affairs ministry and textilesecretary were members of the board while director general of foreign trade DGFT would be the member-secretary, it said. Other prominent members of the board include Federation of Indian Chambers of Commerce Ficci president Sudhir Jalan, Confederation of Indian Industry CII president Rajesh V shah, Federation of Indian Exporters Organisation FIEO president Navratan Samdria, Chemexil chairman Ramu S Deora, Larson and Toubro chief executive officer CEO S D Kulkarni, Anil Ambani Reliance, Dr Anji Reddy Reddy8217;s Laboratories, Mallika Srinivasan TVS Suzuki and L M Thapar BILT.

The board will be meeting in the backdrop of the dismal export performance during the last nearly two years due to the sluggish international market and South East Asian meltdown.India8217;s exports in the first nine months of the current fiscal declined by 2.88 per cent compared to the same period last year. However, during December 1998, exports increased by 6.73 per cent to 2.79 billion against 2.61 compared to the sameperiod in 1997.