Unit 5 - foreign trade policy highlights

Unit 5 - foreign trade policy highlights

1. Early Years (1947-1991)

   • self-reliance
   • import substitution
   • domestic production.
   • Mercantilism, GATT, WTO

2. Liberalization Era (1991 onwards)

   • Licence Raj
   • Liberalisation - RTP - MRTP
     • Abolition of industrial licensing
     • Free from import restriction
   • Freedom to commercial banks
   • SSI
   • Privatisation
     • PSU - private player
   • Globalisation
     • Liberal policy
     • Encouragement of open competition
     • Controls on foreign trade were removed

3. Foreign Trade Policy 2023

   • National Committee on Trade Facilitation (NCTF)
   • DGFT as a facilitator of exports/imports
     • National Policy on Electronics (NPE)
   • Export of perishable agricultural products
   • Niryat Bandhu
   • Online facility for e-Certificate of Origin (e-CoO
   • Export hubs
   • Duty Exemption/Remission Schemes
     • Duty Exemption Schemes - AA & DFIA
     • Duty Remission Scheme - DBK scheme
     • Rebate on State and Central Taxes and Levies (RoSCTL)
   • Export Promotion Capital Goods Scheme (EPCG)
     • Amnesty Scheme
   • Export Oriented Units - tax holidays, exemption from customs duty
   • Electronics Hardware Technology Parks (EHTPS)
   • Make in India
   • Production Linked Incentive (PLI) Scheme
   • Software Technology Parks (STPS) And Bio-Technology Parks (BTPS