Trade bodies urged to work closely with Centre

To form comprehensive trade policies, there is a need for participation by more trade bodies who can work with the government, said Suresh Prabhu, Minister for Commerce and Industry.

Addressing the 2nd edition of the United Economic Forum (UEF) Trade Summit 2017 here on Saturday, Prabhu, who was the chief guest, said in a video message: “Policies of trade and commerce are becoming extremely intricate.” For policies to be more comprehensive, there is a need for more stakeholders to bring in different perspectives and inputs that the government can work on. “UEF is trying doing exactly that,” he added.

O Panneerselvam, Deputy Chief Minister of Tamil Nadu, who addressed the valedictory today, said the establishment of single window portal and diverse investment opportunities such as manufacturing and IT make Tamil Nadu an ideal place for investment.

The event saw participation of 2,500 delegates and around ₹2,600 crore worth MoUs were signed.

Ahmed AR Buhari, President – UEF Chamber of Commerce and Founder President, Coal & Oil Group, said the trade body will increase the contribution from the UEF members from 5 per cent at ₹75,000 crore to 7.5 per cent through partnerships and increasing the members to 1000. Currently, the organisation has 300 members.

Rafeeque Ahmed Mecca, Co-chairman – UEF Trade Summit 2017, said while the focus on building big businesses is the key, there is a need to focus on small and medium scale enterprises that provide huge employment opportunity.