Q.State any two objectives of India's Foreign Trade Policy (EXIM Policy).
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Start your 14-day free trial to unlock the full solution →India's Foreign Trade Policy (earlier the EXIM Policy) lays down the objectives, guidelines and procedures the government uses to regulate, promote and facilitate exports and imports. Among its objectives, any two may be stated: (1) to PROMOTE EXPORTS and increase India's share of world trade, since export growth is central to earning foreign exchange and supporting domestic production; and (2) to ENSURE ACCESS TO ESSENTIAL IMPORTS — raw materials, capital goods and technology that domestic industry needs but cannot produce or produce sufficiently at home. Other valid objectives include encouraging a greater degree of self-reliance, improving the quality and international competitiveness of Indian goods and services, generating employment (particularly through export-oriented production), and augmenting India's foreign exc …
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