The Board of Trade (BoT) headed by Union Minister of Commerce, Industry and Textiles Anand Sharma is slated to meet on Friday to review the country’s export performance ahead of the Foreign Trade Policy (FTP) which will be divulged next month.
The meeting of the high-level Board of Trade (BoT) will have representatives from major Central ministries such as finance, external affairs and micro and small and medium enterprises (MSMEs).
Representatives from exporters as well as industry bodies and promotion boards will also be attending the meeting to chart the way forward.
“The BoT would discuss the impact of rupee fluctuation, rising interest rates and uncertain economic conditions in western markets on the country’s exports,” said an official from the commerce ministry. The government has been striving to bridge the widening current account deficit (CAD) which reached an all-time high of 4.4 per cent in the first six months of 2011-’12.
The government is unlikely to achieve its export target of $360 billion for 2012-13.