b) What do you understand by export promotion councils and commodity boards. Briefly explain their functions.

Export Promotion Councils (EPCs) and Commodity Boards are crucial entities in the realm of international trade, particularly for exporting countries. They play pivotal roles in facilitating, promoting, and regulating exports, thereby bolstering a nation's economic growth and global competitiveness. In this discourse, we will delve into the understanding of Export Promotion Councils and Commodity Boards, elucidate their functions, and underscore their significance in export-oriented economies.

Export Promotion Councils are non-profit organizations established by governments or industry associations to promote and enhance the export activities of specific industries or sectors within a country. These councils operate under the purview of the Ministry of Commerce or relevant governmental departments and work closely with exporters, policymakers, and other stakeholders to formulate strategies aimed at boosting exports.

Functions of Export Promotion Councils:

1. Market Research and Intelligence: EPCs conduct comprehensive market research and gather intelligence on global trade trends, demand patterns, and competitive landscapes. This information is crucial for exporters to identify potential markets, understand consumer preferences, and tailor their products/services accordingly.

2. Export Promotion and Marketing: One of the primary functions of EPCs is to promote exports through various marketing initiatives such as trade fairs, exhibitions, buyer-seller meets, advertising campaigns, and participation _______ _________ __________ ______ __________.
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