1. SUBJECT; INDIAN ECONOMY
Submitted By:
SHASHANK H S
1st Mcom
MIT First Grade
College
SUBMITTED TO:
ARUN KUMAR.K SIR
PG DEPARTMENT
MIT FRIST GRADE CLG
3. FOREIGN TRADE
* Exchange of goods
and services between
the countries is known
as foreign trade. The
difference is the
producer and
consumers reside in
separate countries.
4. MEANING OF FOREIGN TRADE
POLICY
Foreign trade policy is the combination of words
First is foreign trade and
Second is policy
FOREIGN TRADE: It is the exchange of goods and services between
nations. Goods can be defined as finished products, as intermediate
goods used in producing other goods, or as agricultural products and
foodstuffs.
POLICY: policy is the set of rules and proceedure.
5. • In 1992, the govt. enacted foreign trade (Development & Regulation)
Act to facilitate import and enhancing exports from India.
*As per the provisions of the act, the Govt. :-
• may make provisions for facilitating and controlling foreign trade;
• May prohibit,restrict and regulate exports & imports,in all or
specified cases as well as subject them to exemptions;
• Is authorized to formulate and announce an export & import policy
and also amend the same from time-to-time, by notification in the
Official Gazette.
DEVELOPMENT AND REGULATION ACT OF FOREIGN
TRADE POLICY
6. Changes that took place :-
• With economic reforms, globalisation of the Indian economy has been
the guiding factor in formulating the trade policies.
• The reform measures introduced in the subsequent policies have
focused on liberalization, openness and transparency.
• They have provided an export friendly environment by simplifying the
procedures for trade facilitation.
7. KEY STRATEGIES FOR ACHIEVING ITS
OBJECTIVES:-
•Simplifying procedures and bringing down transaction costs;
•Facilitating development of India as a global hub for manufacturing,
trading and services.
•Identifying and nurturing special focus areas to generate additional
employment opportunities, particularly in semi-urban and rural areas.
•Facilitating technological and infrastructural upgradation of the Indian
economy, especially through import of capital goods and equipments.
•Activating Indian embassies as key players in the export strategy.
8. CONCLUSIO
N
•After the implementation foreign trade policy the import and export
among foreign countries have increased and have become more
secured.
•Trading Housing have given a platform to both manufacturers and
consumers to freely and easily trade between different countries.
