Entrepreneurship Development and Communication Skills

7.3.1.Exim policy

The exim policy of Foreign Trade Policy is a set of guidelines and instructions established by the DGFT(Directorate General of foreign trade)  in matters related to the import and export of goods in India. and is regulated by the Foreign Trade Development and Regulation Act, 1992.

DGFT is the main governing body in matters related to Exim Policy.  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, thereby creating favourable balance of payment positions.  This Act has replaced the earlier law known as the imports and Exports (Control) Act 1947.

Indian EXIM Policy contains various policy related decisions taken by the Government in the sphere of foreign trade, i.e., with respect to imports and exports from the country and more specifically, export promotion measures, policies and procedures related thereto.  Trade Policy is prepared and announced by the Central Government (Ministry of Commerce).