explain the role of indian chambers of commerce and industry bin promotion of internal trade
Answers
Internal trade or domestic trade as it is known as one of the most important aspects of a countries economy. A healthy trade sector indicates a healthy economy. So it is only obvious that the government focuses their attention to promote and protect internal trade, and the Indian Chambers of Commerce does just that. Let us take a look.
Indian Chambers of Commerce
The government of India has a Ministry of Commerce and Industry and a Ministry of Finance to look after the well being of its trade sector. But to lend a helping hand, there are Indian chambers of commerce and industry that have been set up. These are generally voluntary and not for profit associations and chambers that work with the government to strengthen internal trade in our country.
One such famous and esteemed Indian chambers of commerce is the Federation of Indian Chambers of Commerce & Industry (FICCI). Set up way back in 1927 it the oldest business organization in the country. It is a not-for-profit organization and not a government association. It provides a network for discussions and is a meeting place for stalwarts of the industry and people making the policies. FICCI also articulates and forwards problems that the industry may be facing.
Another important one of the many Indian chambers of commerce and industry is Associated Chambers of Commerce and Industry of India (ASSOCHAM). Since its establishment in 1920, it has represented the interests of the commerce and the internal trade industries of India. It provides a platform for policy discussions and formulating plans for the safety and the growth of the industry. ASSOCHAM also represents the interests of professionals involved with trade and industries, such as Chartered Accountants, Lawyers, Consultants etc.
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Answer:
Role of Indian Chamber of Commerce and Industry in promotion of trade are as follows:
(i) Inter-state movement of goods: It provides the facility of inter-state movement of goods by offering registration of vehicles and construction of roads.
(ii) Labour laws: It interacts with the government on issues of labour laws.
(iii) Infrastructure: It provides advices to government regarding heavy investments in roads, ports and electricity.
(iv) Weights, measures and protection of brands: It formulates laws along with the government and takes action against those who violate the laws relating to weights, measures and protection of brand.
(v) Local taxes: It protects the smooth functioning of transportation of goods by ensuring octroi and local taxes.
(vi)Excise duty: It ensures streamlining of excise duty which is payable on the raw materials used in manufacturing goods.
Explanation:
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