Role of Commerce and industry in promotion of internal trade (For 5 marks )
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Role of Indian Chamber of Commerce and Industry in promotion of international trade :
The Chamber of Commerce and Industry was formed as an association of business and industrial houses to promote and protect their common interest and goals. There are other chambers also like ASSOCHAM, Confederation of Indian Industry (CII). These chambers interact with the government at different levels to reorient or put in place polices which reduce hindrances, increase interstate movement of goods in internal trade.
The chambers also aims at erecting sound infrastructure and simplying and harmonising the tax strcuture. They work for the following issues:
1. Transportation or Inter-state movement of goods : They work for many activities involved in inter-state movement of goods including registration of vehicles, surface transport policies, construction of highways and roads etc.
2. Octroi and other local levies : Octroi and local taxes are the important sources of revenue of the local government. The chambers tries to should ensure that their imposition not at the cost of smooth transportation and local trade.
3. Harmonisation of sales tax structure and Value Added Tax : These Chambers play an important role in interacting with the government to harmonise the sales tax structure in different states. A rational strcuture of the sales tax and its unifrom rates across states are important for promoting a balance in trade.
4. Marketing of agro products and related issues : The associations of agriculturists and other federations play an important role in the marketing of agro products. Chambers of Commerce helps in streamlining of local subsidies and marketing policies of organisations selling agro products.
5. Weights and Measures and prevention of duplication brands : The Chambers of Commerce and Industry interact with the government to formulate such laws relating to weights and measures and protection of brands that could be beneficial for both producers as well as consumers.
6. Excise duty : The excise policy plays an important role in pricing mechanism and it is the duty of the Chamber to interact with the government to ensure streamlining of excise duties etc.
7. Promoting sound infrstructure : The Chamber of Commerce and Industry in association with government tries to build up heavy investment projects.
8. Labour legislation : The Chambers of Commerce and Industry tries to maintain such kind of labour laws that should be flexible and helpful in running industries, maximising production and generating employment.
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The Chamber of Commerce and Industry was formed as an association of business and industrial houses to promote and protect their common interest and goals. There are other chambers also like ASSOCHAM, Confederation of Indian Industry (CII). These chambers interact with the government at different levels to reorient or put in place polices which reduce hindrances, increase interstate movement of goods in internal trade.
The chambers also aims at erecting sound infrastructure and simplying and harmonising the tax strcuture. They work for the following issues:
1. Transportation or Inter-state movement of goods : They work for many activities involved in inter-state movement of goods including registration of vehicles, surface transport policies, construction of highways and roads etc.
2. Octroi and other local levies : Octroi and local taxes are the important sources of revenue of the local government. The chambers tries to should ensure that their imposition not at the cost of smooth transportation and local trade.
3. Harmonisation of sales tax structure and Value Added Tax : These Chambers play an important role in interacting with the government to harmonise the sales tax structure in different states. A rational strcuture of the sales tax and its unifrom rates across states are important for promoting a balance in trade.
4. Marketing of agro products and related issues : The associations of agriculturists and other federations play an important role in the marketing of agro products. Chambers of Commerce helps in streamlining of local subsidies and marketing policies of organisations selling agro products.
5. Weights and Measures and prevention of duplication brands : The Chambers of Commerce and Industry interact with the government to formulate such laws relating to weights and measures and protection of brands that could be beneficial for both producers as well as consumers.
6. Excise duty : The excise policy plays an important role in pricing mechanism and it is the duty of the Chamber to interact with the government to ensure streamlining of excise duties etc.
7. Promoting sound infrstructure : The Chamber of Commerce and Industry in association with government tries to build up heavy investment projects.
8. Labour legislation : The Chambers of Commerce and Industry tries to maintain such kind of labour laws that should be flexible and helpful in running industries, maximising production and generating employment.
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