EXIM POLICY OF INDIA 2004-09
The foreign trade of India is guided by the Export-Import policy of the Government of India.
Regulated by The Foreign Trade Development and RegulationAct 1992.
Exim policy contains various policy decisions with respect toimport and exports from the country.
Exim Policy is prepared and announced by the centralgovernment.
Exim Policy of India aims to developing export potential,improving export performance, encouraging foreign trade andcreating favorable balance of payment position.
About the Policy:-
Mr. Kamal Nath, minister for commerce and industryannounced
this policy on 31st Aug 2004.
The duration of the policy is from 1st Sept. 2004 to 31stMarch 2009.
It takes an integrated view of the overall development of India’s foreign trade.
Aim of the policy is to double the global merchandise tradewithin the policy time period of 5 years
General Objectives of Exim Policy:-
To establish the framework for globalization.
To promote the productivity competitiveness of IndianIndustry.
To encourage the attainment of high and internationallyaccepted standards of quality.
To augment export by facilitating access to raw material,intermediate, components, consumables and capital goodsfrom the international market.
To promote internationally competitive import substitutionand self-reliance.
To double our percentage of share of global merchandisetrade within the five year.
To act as an effective instrument of economic growth bygiving a thrust to employment generation.