ID :
211349
Wed, 10/05/2011 - 13:10
Auther :

Board of Trade may meet on Oct 11 to review export performance

New Delhi, Oct 5 (PTI) The high-level Board of Trade
(BOT) chaired by Indian Commerce and Industry Minister Anand
Sharma is expected to meet next week to review the country's
export performance in the wake of uncertain economic
conditions in Western markets.
A meeting of the Board of Trade (BoT), an advisory body
to the Commerce Ministry, is likely to be held on October 11,
a ministry official said.
The BoT, which has representation from business chambers
and trade bodies like the Engineering Export Promotion Council
and Federation of Indian Export Organisations, may discuss the
impact of rupee fluctuation, rising interest rates and
uncertain economic conditions in Western markets on the
country's exports.
Exports to the US and Europe account for about 35 per
cent of the country's total overseas shipments.
The meeting is considered important as it provides a
platform for direct interaction between the government and
industry.
At its last meeting in November, 2010, the BoT had formed
a group of top bankers and industrialists, including Ashok
Leyland MD R Seshasayee and Hero Group chief Pawan Munjal, to
advise it on ramping up India's export competitiveness and
boosting overseas shipments.
The BoT comprises other well-known industrialists as
well, including Anand Mahindra of Mahindra and Mahindra, Onkar
S Kanwar of Apollo Tyres, Kiran Mazumdar Shaw of Biocon, K
Satish Reddy of Dr Reddy's Lab and Yogi Deveshwar of ITC.
During the April-August period this fiscal, India's
exports grew by 54.2 per cent to USD 134.5 billion. However,
Commerce Secretary Rahul Khullar has said the high export
growth rate would not be sustainable due to the uncertain
economic conditions in Western markets.

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