Council for Trade Development and Promotion

Council for Trade Development and Promotion
On 8th of January, 2018 3rd meeting of the Council for Trade Development and Promotion has happened under the chairmanship Union Minister for Commerce and Industry (Shri Suresh Prabhu) in New Delhi.
In this article, the following topics are discussed
  • What is Council for Trade Development and Promotion? 
  • What is the composition in Council for Trade Development and Promotion? 
  • What are the objectives/purpose of Council for Trade Development and Promotion? 
  • Important issues in 3rd meeting of Council for Trade Development and Promotion 

What is Council for Trade Development and Promotion?

  • On July 3, 2015, the then Minister of State for Commerce and Industry Nirmala Sitharaman had constituted the Council for Trade Development under the chairpersonship of the Union Minister for Commerce and Industry, in pursuance to the provisions of Foreign Trade Policy statement 2015-20. 
  • The main purpose of this is council to ensure a continuous dialogue with states and Union Territories on measures for providing an international trade enabling environment in the states 
  • Another objective o CTDP is to create a framework for making the states active partners in boosting India’s exports 

What is the composition of Council for Trade Development and Promotion?

Council for Trade Development and promotion is chaired by Union Minister for Commerce and Industry. Other members include
  • Ministers’ in-charge of Trade and Commerce in State Governments/UTs are its members 
  • Secretaries of concerned central departments/Ministries. Secretaries of central government includes commerce, revenue, shipping, civil aviation, agriculture, food processing and economic affairs 
  • Heads of other export-related organizations/trade bodies are Members of the Council. 

Number of meetings:

  • Till now Council for Trade Development and promotion met for three times 
  • The1st meeting of CTDP on 08.01.2016 
  • The 2nd meeting of the Council was held 05.01.2017 
  • Recently 3rd meeting of CTDP was held in New Delhi 

Objective of CTDP:

  • CTDP helps to provide a platform to central Government for apprising State Governments and Union Territories regarding international development affecting India’s trade potential and opportunities 
  • It also helps to prepare state governments to deal with an evolving situation in exports and imports. 
  • Providing the platform to State Governments and Union Territories for articulating their perspectives on trade policy. 
  • The council helps State Governments/UTs to develop and pursue export strategies in line with national Foreign Trade Policy 
  • Provide platform for deliberation on need for infrastructure relevant for promoting trade and for identification of impediments and infrastructure gaps which adversely affect India’s export to other countries 

Important outcomes in the 3rd meeting:

The 3rd meeting is mainly focused on the issues of World Trade, Global Economy and also creating an environment for Indian products. In the third meeting of Council for Trade Development and promotion, some of the important outcomes are
  • Suresh Prabhu released a study “LEADS-Logistics Ease Across the Different States” which is a first-ever sub-national logistics performance index. 
  • He also released the “State Exports Booklet” which is a compendium, of the status of exports from the States over the last 10 years. 
  • The members of the council deliberate on creating a framework for making the states active partners in boosting exports 
  • Also discuss various issues including falling exports to the ASEAN, ahead of the visit of state heads of 10 ASEAN countries, who will be present in the country to participate in the Republic Day function. 

Questions:


1. Who among the following act as chairman of Council for Trade Development and promotion? 
a. Speaker of Lok Sabha
b. Prime minister
c. Union minister of trade and commerce
d. President

2. In which year Council for Trade Development and promotion was formed? 
a. 2014
b. 2015
c. 2016
d. 2017 

3. Which state ranks first in LEADS-Logistics Ease Across Different States that is released during rd meeting of CTDP? 
a. Gujarath
b. Andhra Pradesh
c. Tamil Nadu
d. Karnataka

4. Which union territory ranks first in LEADS-Logistics Ease Across Different States? 
a. New Delhi
b. Puducherry
c. Daman & Diu
d. Lakshadweep

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