EXIM Policy of India

The foreign trade policy (FTP) also known as EXIM (export-import) policy is regulated by
the Foreign Trade Development and Regulation Act, 1992. The main governing body in the
matters concerning the EXIM policy is DGFT (Directorate General of Foreign Trade).
Objectives of Foreign Trade Development and Regulation Act, 1992
 As you already know that the EXIM policy is regulated by the Foreign Trade
Development and Regulation Act, 1992.
 The main objective of this act is to provide the development and regulation of foreign
trade by facilitating imports into and augmenting exports from India.
 Foreign Trade Act has replaced the earlier law known as the imports and Exports
(Control) Act 1947.
Objectives of EXIM Policy of India
 To promote persistent growth in exports to acquire a share of at least 1% of
international merchandise trade
 To encourage stable economic expansion by offering access to necessary capital
goods, raw materials, intermediate products, consumables, installations, and elements
essential for providing services and expanding production.
 To improve the technological strength and productivity of Indian agriculture,
companies, and services, thus enhancing their competitive power while creating fresh
employment possibilities, and to stimulate the accomplishment of globally
acknowledged norms of quality.
 To supply consumers with fine condition goods and services at globally competitive
rates while simultaneously generating a level playing range for domestic production.

EXIM Bank of India | Management & Functions of EXIM Bank of India

Effective January 1, 1982, the Exim Bank was established to take responsibility of the
business of global finance branch of the IDBI (Industrial Development Bank of India) and to
deliver monetary support to importers and exporters and to serve as a chief financial
foundation for collaborating the functioning of other organizations involved in the financing
of imports and exports of products and services.
The sanctioned wealth of Exim Bank is Rs. 200 crores and the paid-up asset is Rs. 100
crores completely endorsed by the Central Government.
Organization and Management
The Export-Import Bank is administered by a Board comprising of a Chairman, the
Managing Director along with 17 Directors signifying distinct areas. They are the
Commerce Secretary, Secretary to Banking, Secretary to the Department of Industrial Board,
Finance Secretary, Secretary IDBI, Secretary RBI, Secretary ECGC, 3 directors depicting
additional scheduled commercial banks, 4 Directors elected from the export society, and
three additional symbolizing departments and ministries.
Functions of Exim Bank
The Exim bank performs the following crucial responsibilities:
 The bank offers immediate monetary help to exporters of the plant, equipment, and
corresponding services by means of medium-term credit.
 To guarantee the issue of stocks, bonds, shares, and debentures of any organization
involved in exports.
 The bank put forward rediscount of export bills for a duration no longer than 90 days
against short period usage export invoices depreciated by commercial banks.
 It also provides foreign buyers a credit to overseas importers for import of Indian
industrial products and concerning services.
 To create and fund export-oriented enterprises.
 To build up and bring together the market and credit particulars about foreign trade.