What are the main objectives of foreign trade policy?

ADVERTISEMENTS: 1) To double the percentage share of global merchandise trade within the next five years. 2) To act as an effective instrument of economic growth by giving a thrust to employment generation.

What are the objectives of the Foreign Trade policy 2015-20?

The new five year Foreign Trade Policy, 2015-20 provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in keeping with the “Make in India” vision of Prime Minister.

What are the main objectives of foreign trade policy discuss in current Indian business scenario?

While the trade policy covers both imports and exports, its primary objective is to facilitate trade by reducing transaction cost and time, thereby making Indian exports more globally competitive. It aims to: Accelerate economic activity and make the most of global market opportunities.

What are foreign trade policies?

Foreign Trade Policy is a set of guidelines and instructions established by the DGFT in matters related to the import and export of goods in India. The Government of India, Ministry of Commerce and Industry announces Export Import Policy every five years. The new FTP (2015-20) came into force w.e.f 01/04/2015.

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What are the objectives while framing the foreign trade policy?

The Foreign Trade Policy (FTP) was introduced by the Government to grow the Indian export of goods and services, generating employment and increasing value addition in the country. The Government, through the implementation of the policy, seeks to develop the manufacturing and service sectors.

What are the objectives of foreign trade policy 2009 14 & 2015-20?

Objectives of Foreign Trade Policy 2009-14 : To arrest and reverse declining trend of exports is the main aim of the policy. This aim will be reviewed after two years. To Double India’s exports of goods and services by 2014.

What are the main features of foreign trade in India?

Foreign Trade: 8 Salient Features of Foreign Trade of India – Explained!

  • Negative or Unfavourable Trade: …
  • Diversity in Exports: …
  • Worldwide Trade: …
  • Change in Imports: …
  • Maritime Trade: …
  • Trade through a few Selected Ports Only: …
  • Insignificant Place of India in the World Overseas Trade: …
  • State Trading:

What is the objective of commercial trade policy?

Commercial policy means the policy which is declared by the government to control the procedure of import and export at the beginning of the fiscal year. Generally, the main objective of this policy is to create independence by increasing and decreasing the export and import.

Why are trade policies important?

In a developing country like India, trade policy is one of the many economic instruments which are used to suit the requirements of economic growth. The twin objectives of India’s trade policy have been to promote exports and to restrict the level of foreign exchange available to the government.

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What are the features of foreign trade?

Features of Foreign Trade

  • Negative Trade.
  • Changing Imports.
  • Diversity in Exports.
  • Trading through Selected Ports.
  • Trade during Maritime.
  • Worldwide Trade.
  • Place of India in Overseas Trade.