Briefly explain the basic functions of Chamber of Commerce & Industry.
The basic functions of the Chamber of Commerce & Industry are :
1. Means of economic development:
Chamber of Commerce and Industry is a voluntary association of traders. Therefore, it plays a regulatory role in the economic development of the business. It talks with the government to pass laws in favour of business.
2. Supply of information:
This corporation collects information about various business potential markets, transportation routes etc. and distributes it among the members.
3. Decision making:
The members of the Board of Directors and the Executive Council may take decisions on all matters referred to in the program of this organisation.
4. Assistance in inter-state movement of goods:
The Chamber of Commerce and Industry is involved in registration of vehicles, regulation of road transport, and construction of roads and highways throughout the country.
5. Creation of suitable infrastructure:
The development of roads, dams, electricity, railways, and ports plays an important role in the development of industry, trade, and commerce. The Chamber of Commerce and Industry endeavors to accomplish these tasks in collaboration with the Government.
6. Assistance in marketing of agricultural produce:
This organisation helps in marketing agricultural produce through agricultural cooperatives and agricultural groups.
7. Help in determining Excise duty:
Excise duty is one of the main sources of government revenue. The Chamber of Commerce and Industry helps the government greatly in determining the excise duty.
8. Protection of product weights and measures:
This organisation helps the government in enacting various laws for product weight, measurement, and brand protection and recommends action against those who violate these laws.
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