Chapter 22

Trade Policy

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 Learning Objectives

● Discuss the salient features of changes in trade policy in

India

● Outline the issues in foreign trade

● Explain the sector-wise trade policies

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 Policy Changes and Issues

● Bindings
● International Standards
● Intellectual Property Rights
● Anti-Dumping, Environment
● IT, Regional Trade Arrangements

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 Sector-wise Policies

● Agricultural Sector
● Food Processing
● Mining and Petroleum
● Manufacturing, Services

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 Features of Foreign Trade Policy

● 5 year Policy
● Year Amendment
● Previously, known as EXIM Policy
● Policy dealing with new schemes like SEZ and
government facilitation measures

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 Removal of Quantitative
Restrictions on Imports

● QR removal and FOREX Reserves – Relationship

● Phased removal of QRs

● Removal of QRs: Implications

● Special provisions in the WTO Agreement

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