The document discusses India's export-import (Exim) policy over time. It defines key terms like export, import, and entrepôt. Factors influencing Exim policy include constitutional provisions and directives. Early policies from 1951-1985 alternated between restrictive and liberal approaches. The need for a clear policy was to regulate imports and develop export industries. Key aspects of recent policies included import restrictions, import substitution, export incentives, and export processing zones. The current Exim policy simplified import licensing and lowered duties to promote exports and industry.