Foreign Trade Policy of India

India's Foreign Trade Policy is the government's broad framework of measures aimed at expanding and diversifying the country's foreign trade. Its general objectives include:

• Promoting exports — through incentives, streamlined procedures, and support for export-oriented industries, so that India's share of world trade grows.
• Diversifying the trade basket — reducing dependence on a narrow range of export goods or a small number of trading partners, spreading trade across more products and markets.
• Facilitating imports required for growth — ensuring the smooth import of capital goods, technology and raw materials that domestic industry needs, while managing the impact on the trade balance.
• Integrating with the global economy — participating in multilateral trade arrangements and simplifying trade procedures to make Indian businesses more globally competitive. …