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BoT meeting scheduled for tomorrow deferred

A meeting of the Board of Trade, to be held between Commerce and Industry Minister Anand Sharma and leading corporates for reviewing the country's exports, has been deferred.

business Updated: Jun 13, 2010 11:54 IST

A meeting of the Board of Trade, to be held between Commerce and Industry Minister Anand Sharma and leading corporates for reviewing the country's exports, has been deferred.

The meeting was scheduled for June 14.

While no official reason was assigned for postponement of the crucial meeting, sources said it could be because several
industrialists on the board were visiting places abroad.

Sources said the new date for the meeting will be announced soon.

The BoT advises the government on policy measures connected to global trade.

The BoT, which also comprises business chambers and trade bodies, was to discuss the changing rupee-euro equation, considering that the eurozone currency had been hit by the Greek crisis, among other issues.

The meeting is considered important as it provides a platform for direct interaction between the government and
industry.

Wipro Chairman Azim H Premji, SBI Chairman OP Bhatt, Biocon CMD Kiran Mazumdar Shaw, Apollo Tyres CMD Onkar S Kanwar, Hero Honda MD Pawan Munjal, Unitech CMD Ramesh Chandra and Dr Reddy's Lab MD K Satish Reddy are members of the BoT.

The European crisis came at a time when Indian exports were just emerging from the recession in leading world
markets.

Exports, which account for about 17 per cent of the country's total economic activities, had contracted by over 39
per cent in May, 2009.

Shipments to Europe account for about 23 per cent of the country's exports.

The BoT was reconstituted in July last year and its first meeting was held in August, 2009.