Identify various organisations that have been set up in the country by the government for promoting country’s foreign trade.
Answers
Answer:
The various organisations that have been set up in the country by the government for promoting country’s foreign trade are :
(1) Department of commerce :
It is an Apex body responsible for foreign trade and all matters connected with export and import policy of the country.
(2) Export Promotion council (EPC)
These are non profit organisation registered under companies act or the society registration act. Its main objective is to promote and develop particular product under the jurisdiction. Now in India, there are 21 EPCs . They are dealing in different products.
(3) Commodity boards :
These boards have been established for the development and production of traditional products and their exports. Commodity boards are supplementary to EPCs. Now in India, there are 7 commodity boards. These boards are coffee board, rubber board, tobacco board, spice Board, Central silk Board, Tea board and coir board.
(4) Export inspection council (EIC) :
EIC has been established for the proper development of export trade with the help of quality control and pre shipment inspection. With the exception of certain commodities ,all the commodities must pass through EIC.
(5) Indian Trade Promotion organisation (ITPO) :
ITPO was set up in 1992 under companies act 1956. It was founded by merging trade development authority and trade fair authority of India. It organises trade fairs and exhibition. These trade fairs and exhibition are organise within the country and outside the country. It helps the export firms in participating in international trade fairs and exhibitions.
(6) Indian institute of Foreign Trade (IIFT) :
It was set up in 1963 as a autonomous body. Its main objective is to increase the professional qualities by training and research to the country's foreign trade management.
(7) Indian institute of packaging (IIP) :
It was set up in 1966. It is situated in Mumbai. Its main laboratory is in Mumbai and regional laboratories are located in Delhi, Kolkata and Chennai. IIP is a training come Research institute regarding packaging.
(8) State trading Corporation (STC) :
STC was set up in 1956. Its main objective is to promote trade, primarily export trade among Different trading firms of the world.
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