BoT to review euro crisis impact on exports in June

NEW DELHI: The Board of Trade, headed by Commerce and Industry Minister Anand Sharma, will review on June 14 the impact of European debt crisis on the Indian exports.

The Board of Trade (BoT), which also comprises leading industrialists, business chambers and trade bodies, would discuss the changing rupee-euro equation, as the euro zone currency has been hit by the Greek crisis.

Wipro Chairman Azim H Premji, SBI Chairman O P 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 comes at a time when Indian exports emerged out of the crisis following 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.

Exports to Europe account for 20 per cent of the country's exports.

This would be the second meeting after the BoT was reconstituted by Sharma in July last year. Its first meeting was held in August 2009.

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