Identify various organisations that have been set up in the country by the government for promoting country’s foreign trade.
Various organisations that have been set up in the country by the government for promoting
country’s foreign trade are as follows - -
(i) Department of Commerce In the Ministry of Commerce, Government of India, Department of Commerce is the apex body. It is responsible for formulating policies in the sphere of foreign trade, increasing commercial relations with other countries, state trading, export promotional measures and the development and regulation of certain export oriented industries and commodities.
(ii) Export Promotion Councils (EPCs) They are non-profit organisations registered under the Companies Act or the Societies Registration Act according to the case involved. Their basic objective is to promote and develop the country’s exports of particular products falling under their jurisdiction.
(iii) Export Inspection Council (EIC) It was set up by the Government of India under Section 3 of the Export Quality Control and Inspection Act 1963. The council aims at sound development of export trade through quality control and pre-shipment inspection.
(iv) Indian Institute of Foreign Trade (IIFT) It is an institution that was set up in 1963 by the Government of India as an autonomous body. It has recently been recognised as Deemed University. It provides training in international trade, conducts researches in areas of international business. It also analyses and disseminates data relating to international trade and investments.
(v) Indian Institute of Packaging (IIP) It was set up as a national institute jointly by the Ministry of Commerce, Government of India and the Indian Packaging Industry and Allied Interests in 1966. It is a training-cum-research institute pertaining to packaging and testing. It caters to both domestic and export markets. It also undertakes technical consultancy, testing services on packaging developments, training and educational programmes, promotional award contests, information services and other allied activities.