The document discusses various legal and regulatory aspects related to India's commercial and trade framework, including safety acts for buildings, export-import policies, and the role of the World Trade Organization. It highlights the transition of India's economy since 1991, emphasizing the importance of exports for economic growth and job creation. Additionally, it addresses the necessity of imports for maintaining quality standards and staying competitive in a globalized market.

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Q1. What are the safetyact sectionsapplicable for commercial buildings?
Q2. What are W & M laws? What isthe necessityofimposingthese laws?
Q3. What isombudsman scheme?
Q4. What isthe mandate of Food Authority?
Q5. What are the Restrictions on establishmentofplace of businessinIndia?
Q6. How doesimport and exportof goods can be classified?
Q7. Write the salientprovisionsof the AKBARI ACT I.
Q8. What isthe role of CertifyingSurgeonsin factory act law?
Case Study- Import and Export in a factory outlet
India’s economic structure today presents a distinctly different picture from what it was in
1991 when economic reforms started. In 1991 our foreign exchange reserves had depleted
substantially. We then had just enough reserves to tide over the import requirements of
three weeks. It was in this context that India gradually started dismantling its quantitative
restrictions, partially liberalised its exchange rate and reduced the peak rate of customs
duties. The average duty on all products stands reduced from over 70% in 1991-92 to 12%
in 2008-09. However, at the same time the whole world was rushing towards globalisation
and integration. Had India not joined the race, the economic scenario could have worsened.
The only recourse left to India was to increase its exports to tide over the ever-increasing
imports. We were aiming to gain a considerable proportion of international business and
make our presence felt on the international front. The Government announced various
export promotion measures and incentives. Laws were framed to streamline the process of
export and import. These laws ensured that our commitment to expansion of India’s trade
remained firm. The laws and facilitations announced by the Government were not only
related to export and import of goods and services, but were also directed to up gradation
of technology and integration of all the departments by using latest technologies available.
As we can see, e-commerce plays a very significant role in today’s trade. The Export and
Import Policy or the Exim Policy, 1992-97 was a significant landmark in India’s economic
history. For the first time, conscious effort was made to dismantle various protectionist and
regulatory policies and accelerate the country’s transition towards a globally
oriented economy. This Policy coincided with the 8th Five Year Plan and has yielded

2. impressive growth in exports. While India’s total exports during 1991-92 were US$ 17.86
billion, they increased to US$ 155 billion in 2007-08, almost 2½ times of the figure four
years ago. India’s share in the global trade has gone up and the share of exports as
percentage of GDP has also increased substantially. Keeping these factors in view, the
Exim Policies announced thereafter have sought to consolidate the gains of the previous
Policy. They aim to further carry forward the process of liberalization with the result that
we have achieved nearly 1.5% share of world merchandise trade in 2007-08 totaling up to
US$ 525 billion. In the current Foreign Trade Policy, two major objectives have been
outlined:
(i) To double our percentage share of global merchandise trade within the next five years;
and
(ii) To act as an effective instrument of economic growth by giving a thrust to employment.
Out of the above two, we have already achieved the first one and are on track to achieving
the second objective i.e. we have already created 136 lakhs new jobs in the past four years.
In the era of globalization and WTO regime many Asian countries have achieved such
remarkable export-led growth that South Korea and Taiwan are likely to be considered as
developed countries by WTO. WTO is the largest body of world trade consisting of 153
member countries as on date and responsible for 96% of the world trade. It is necessary for
any developing country to expand exports continuously because export growth ultimately
results in creation of jobs, building up of infrastructure, economies of scale and added
foreign exchange earnings. Today’s world is economic in nature and increased exports give
credibility to the standing of the country in overseas market. Exports, therefore, are of
importance and are considered a national priority by the Government of India.
Why Imports?
Because of tough competition, you can sell only if the quality of your product is better than
that of your competitors, the price most competitive and the buyers get delivery on time. In
order to achieve all this, one needs to have access to international standard quality
materials and capital goods. We also need to have better technology at our command as
there is a sea change in the markets worldwide.
We have moved from letters to e-mails, telefaxes to video conferencing and manually
operated phones to cellular phones via satellite. Today it is not possible to compete in the
world without a better technological product. We cannot match the standards of quality
and services that others offer if we happen to be out-dated – and that means out of market
as well. By accepting membership of the World Trade Organization (WTO), India has
become a part of the global village. New trade blocks are emerging and new world order is
getting established. Even regional trading arrangements (RTAs) are mushrooming and it is
estimated by the WTO that by 2010 there would be close to 400 RTAs. Even India is
negotiating bilateral agreements with various countries and regional groupings. A number
of joint ventures are being signed for export promotion as well as better quality production
for domestic market. The FDI inflows into the country from 1991 to June, 2008 stand at

3. more than $ 89 billion. We have witnessed a major change in this area between the years
1992-2007 and if one scans through the newspapers, one will find that economic news has
taken priority over political news. The area in which the imports are almost essential are
defense requirements, crude oil, fertilizers, capital goods, industrial inputs like raw
materials, components, consumables, spares, etc., import of samples, import of technology,
import of drawing and designs, import of services etc. There are many vital areas where
there is a need to import capital goods - new as well as second hand – in order to upgrade
our products and services. Further, there is an increase in factor mobility. The various
factors of production like raw materials, labor, capital goods, spares, consumables, etc.
have become mobile. It is easy to relocate any of these factors from one country to another
depending on where they are needed. This gives rise to opportunities where various
components of a value chain are completed in different countries. For example, a company
in USA may buy fabric from China, source design from Italy, labor from Bangladesh and
Sri Lanka and arrange to make a garment to be sold in Europe. Likewise, in the case of
contract manufacture, a firm makes a contract with another firm abroad whereby the
contracted party manufactures or assembles a product on behalf of the contractor. The
contractor retains full control over marketing and distribution whilst the manufacturing is
done by the local company. The advantages of such outsourcing are:
- There is no need to invest in plant overseas
- The risks of asset expropriation are minimized
- Risks associatedwith currency fluctuations are better managed
- Control of marketing is retained by the contractor - a product manufactured in the
overseas market may be easierto sell, especially to government customers
- Lower transport costs and
- Some times lower production costs can be obtained.
To sum up, it is not possible to survive without imports when the world is moving so
rapidly towards globalization and liberalization.
The phenomena of global sourcing at the most competitive costs and the need to increase
productivity of the domestic industry through the imports of hi-technology products has
resulted in import liberalisation being an imperative tool for economic growth.
Q1. Two Interdependence termimportand export are interrelatedexplaingivingproperexample
Q2. What are the two termsimport and exportsupport the term globalization

4. 1. Food contaminationcan occur during
2. The PreventionofFood AdulterationBill was passed on
3. Food adulterationmeans
4. Whichis an accidental adulteration?
5. The common adulterant foundin Red Chili powderis
6. Whichlegislationdofood operators needto follow
7. In which year FSSAI was established
8. What is the tenure of membersof the FoodAuthority?
9. What is the maximum penaltyfor breach of regulationsrelatedto the labelingoffood
items?
10. What is FSSA,2006 & why this Act is needed?
11. What is FEMA?
12. India earns maximumforeignexchange by the exportof
13. National Sample SurveyOrganization (NSSO) was establishedin
14. Banking regulationact was passed in………..?
15. In which year, the ForeignExchange ManagementAct (FEMA) came into force?
16. Foreignexchange means 'foreigncurrency' and includes
17. ……………meansapersonfor the time beingauthorizedunder section7 to deal in
foreigncurrency
18. The Central Governmentmay appoint such personsas it thinksfit to be officers
of…………...
19. Personresident……….India” meansa personwho is not residentin India.
20. “……………”meansacertificate of title to securitiesbythe deliveryofwhich (withor
without endorsement) the title tothe securitiesistransferable
21. Whichdocumentis must for getting the permissionby the customs for the export of
goods by sea or air
22. This documentimpliesthat the goods,that are exportedhas beenmanufactured ina
particular country mentionedtherein.
23. Whichone ofthe followingisnot the validityof IEC (Importer-ExporterCode Number)
24. ECGCstands for
25. FDI stands for:
26. FII stands for
27. Whichof the followingisa part of 2002 -2007 EXIM policy?
28. EPCGSstands for
29. In case of goods beingrejectedor wrong shipmentswhichsectionof customer act
providesdrawback facilityon the customer’sduty?
30. How much digitsare there in IEC number?
31. Section2(n) of the FactoriesAct, 1948 defines…….
32. The Poweror exempt, any factory, during publicemergencyisgivenin which section
of the FactoriesAct, 1948?
33. An occupier,before using any premisesas a factory, shouldsenda writtennotice to
the ChiefInspectorat least ….. days in advance.

5. 34. If a new manager is appointed and takes charge on a givenday, the Occupiermust
senda writtennotice to the Inspectorwithin….. days.
35. If a Manager is not appointedfor a factory thenthe Occupierof the factory will be
consideredas the Manager ofthe factory as per the Factories Act, 1948.
36. General dutiesofthe Occupierare mentionedinwhichsectionof the act?
37. The term “Inspectors” isdiscussedinwhich sectionof the FactoriesAct, 1948?
38. The State Governmentcannot appointJoint ChiefInspectors.
39. Powersof Inspectors are discussedinthe Section……….
40. Section10 of the FactoriesAct, 1948 speaksabout ………….
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