What is Meant by Chamber of Commerce?
“As workers form trade unions, businessmen form chambers of commerce. Theses are the unions, which work for their benefit and try to protect their business. ”
A chamber of commerce is an association of persons engaged in commerce, trade and industry for protecting their interests and promoting their common causes. The merchants, manufacturers, bankers and others come together to form chambers so that they are able to raise those issues that affect all of them.It’s a democratic right to form associations and as far as these associations don’t violate peace and order, they are welcome by everyone. Of course, certain governments may have some objections regarding them, but they can’t help it and have to support them overtly or covertly.
As workers form trade unions, businessmen form chambers of commerce. Theses are the unions, which work for their benefit and try to protect their business. The chamber of commerce may be local, national, or international.
The London Chamber of Commerce is an example of international chamber of commerce. Anybody dealing in any line of activity can join such chambers. The chambers take up the general problems of commerce and industry and bring them to the notice of appropriate authorities.
In India, Europeans formed the first chamber of commerce in 1884 in Calcutta and named it the Bengal Chamber of Commerce. Afterwards, Europeans organized a number of chambers of commerce in many parts of India and other countries also.
These institutions are principal spokesmen of business interests and they carry out research on matters pertaining to business. There are many problems faced by trade and theses problems can better be discussed on the platform of these chambers.
The laissez faire days are gone now. Governments are now taking active interest in commerce and industry. They can’t afford to be mere spectators in the vast drama of business and have to manipulate things for the party’s as well as the nation’s benefit. There are various regulations, which have a direct influence on the working of business houses.
The excessive interference in commercial activities has necessitated the formation of the chambers of commerce. The business units also require information about the business opportunities at different places. It may not be possible for every unit to collect it. The chambers are a repository of every type of general and technical information and help their members a lot in this regard.
Author - DeeKay
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