Cait Welcomes Government Proposal To Set Up Trade Promotion Body

By CNBCTV18.com Sep 13, 2022, 03:30 PM IST (Published)

The Confederation of All India Traders (CAIT) on Tuesday welcomed the government’s proposal to set up a trade promotion body (TPB) for export promotion.

Last month, the Department of Commerce said a TPB would be set up to drive export targets, execution, and overall promotion strategy as part of a restructuring exercise.

The TPB will create special zones, export-oriented units as well as strengthen trade negotiations. It will also enable optimum use of Free Trade Agreements (FTAs), provide data analytics and identify emerging opportunities for trade.

The CAIT said efforts were needed to promote small artisans, craftsmen, and artists to provide them with linkage with the TPB.

The traders’ body added that it would advise 40,000 trade bodies across India to bring skilled people to avail the benefits of the government policies.

Further, it said banks have been overcharging US dollar rates as credit has been reflected in three days to exporters’ accounts.

Regarding gems and jewellery exports, the traders’ body said it needs greater attention and urged the government to reconsider the exports of tyres.