Centre names Anand Sharma as new BoT chairman

New Delhi, July 17 (ANI): The Government has named Commerce and Industry minister Anand Sharma as the new Chairman of the Board of Trade, ahead of the announcement of new Foreign Trade Policy.

Sharma has replaced industrialist Kumar Mangalam Birla, who was the last chairman.

The Board is the government's highest advisory body on export- and import-related issues.

"The Commerce and Industry minister will be the Chairman of the Board of Trade (BOT)," a notification issued by the Directorate General of Foreign Trade said.

The BoT advises the Government on policy measures for preparing and implementing both short- and long-term plans for increasing exports in the light of emerging national and international economic situations.

Since October, India's exports are hit by a downslide in demands from major importers, including the US and the European Union.

Among others, the Secretary in the Departments of Commerce and Revenue and Ministries of External Affairs and Textiles are members of the Board, which meets at least once every quarter.

The President or Secretary-General of national chambers of commerce such as the Federation of Indian Export Organisations, Confederation of Indian Industry, Federation of Indian Chambers of Commerce and Industry, and Assocham are ex-offico members of the BoT. (ANI)