Board of Trade to Meet on July 3 to Discuss Ways to Boost Exports

The Board of Trade (BoT), chaired by Commerce and Industry Minister Piyush Goyal, is scheduled to meet on July 3 to leverage benefits from recent trade pacts and to discuss strategies for accelerating the country's exports, an official said.

The BoT includes participants from various states, Union territories, and senior officials from the public and private sectors.

In the meeting, representatives of export promotion councils, along with other participants, will present their views on the export sector.

"The BoT is meeting on July 3 here," the official said.

The last meeting of the board was held on November 25, 2025.

The meeting is important as India has implemented five free trade agreements (FTAs) since 2021 with Mauritius, Australia, the UAE, Oman, and the four-nation European EFTA bloc. It has also signed a pact with the UK, which will come into force on July 15.

The trade pact with the 27-nation EU is expected to be signed by the end of this year and may come into force next year.

The meeting is also important as India is looking to take the country's merchandise exports to USD one trillion in 2026-27. It was USD 863 billion in 2025-26.

Earlier this month, the government nominated 29 non-official members, including SBI Chairman C S Setty, Apple India MD Virat Bhatia, and Mahindra & Mahindra MD Anish Shah, to the Board.

In 2019, the government merged the Council of Trade Development and Promotion with the Board of Trade to bring greater coherence in the consultation process with all stakeholders for promoting exports and imports.

The Board of Trade provides an opportunity to discuss and consult with trade and industry leaders as they advise the government on policy measures for foreign trade policy to achieve the objective of boosting India's trade.

It also provides a platform for state governments and Union territories to articulate their perspective on trade policy, and also for the central government to apprise them about international developments affecting India's trade potential and opportunities.

India's exports climbed to a six-month high of 18 per cent to USD 45.2 billion in May, while the trade deficit widened to USD 28.21 billion.

During April-May 2026-27, exports rose 16.09 per cent to USD 88.91 billion, while imports jumped 15.14 per cent to USD 145.35 billion. The trade deficit stood at USD 56.44 billion during the period.