Question: Which of the following is one of the objectives of foreign trade policy?

What are the 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.

Which of the following is one of the objective of the Foreign Trade policy 2015?

Their objective was to generate employment opportunities and increase India’s share of global trade. … The FTP 2015-20 has introduced two new reward schemes for exporters, viz., Merchandise Exports in India Scheme and Service from India Scheme.

What are the objectives of foreign trade policy of Government of India?

Objectives of the Foreign Trade Policy in India

To enable substantial growth in exports from India and import to India to boost the economy. To at least double the percentage share of global merchandise trade conducted within the next five years. To improve the balance of payment and trade.

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.

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What is a foreign trade policy?

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.

What is the purpose of foreign trade?

International trade allows countries to expand their markets and access goods and services that otherwise may not have been available domestically. As a result of international trade, the market is more competitive. This ultimately results in more competitive pricing and brings a cheaper product home to the consumer.

Which of the following are included in foreign trade policy 2015 2020?

FTP 2015-20 introduces two new schemes, namely ‘Merchandise Exports from India Scheme (MEIS)’ for export of specified goods to specified markets and ‘Services Exports from India Scheme (SEIS)’ for increasing exports of notified services.

What is the foreign trade policy of India?

India’s Foreign Trade Policy also envisages helping exporters leverage benefits of GST, closely monitoring export performances, improving ease of trading across borders, increasing realization from India’s agriculture-based exports and promoting exports from MSMEs and labour intensive sectors.

What is commercial policy and its objectives?

The main objectives of the modern commercial policy are: First, to increase the quantity of trade with foreign nations. Second, to preserve, the essential raw material for encouraging the development of domestic industries. … Ninth, to enter into trade agreements with foreign nations for stabilizing the foreign trade.

What are the principle objectives of India’s export policy explain?

The principal objectives of the Export Import Policy 1997 -2002 are as under: To accelerate the economy from low level of economic activities to high level of economic activities by making it a globally oriented vibrant economy and to derive maximum benefits from expanding global market opportunities.

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