Explain the role of Indian Chamber of Commerce and Industry in the promotion of internal trade.
Role of Indian Chamber of Commerce and Industry in promotion of trade are as follows:
- Inter-state movement of goods: It provides the facility of inter-state movement of goods by offering registration of vehicles and construction of roads.
- Labour laws: It interacts with the government on issues of labour laws.
- Infrastructure: It provides advices to government regarding heavy investments in roads, ports and electricity.
- Weights, measures and protection of brands: It formulates laws along with the government and takes action against those who violate the laws relating to weights, measures and protection of brand.
- Local taxes: It protects the smooth functioning of transportation of goods by ensuring octroi and local taxes.
- Excise duty: It ensures streamlining of excise duty which is payable on the raw materials used in manufacturing goods.
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