Exim Policy

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CONTENTS :- • Introduction • India 's Exim Policy : A Backdrop • The Foreign Trade Regime: Analytical Phases and Changes over Time • India 's Exim Policy : Phases of Changes • Export Import Policy 2002-07 : Objectives • General Provision Regarding Imports and Exports • Promotional Measures • Duty Exemption / Remission Scheme • Export Promotion Capital Goods Scheme • EOUs, EPZs, EHTPs, STPs • Deemed Exports • Summary • Self-Assessment Questions • Further Readings  INTRODUCTION :- Export-Import (EXIM) Policy alternatively known as Trade Policy, refers to Policies adopted by a country with reference to exports and imports. Trade; Policy can be free trade policy or protective trade policy. A free trade is one which…show more content…
In the early sixties (1961-66) quantitative restrictions for imports continued. At the same time, efforts were made to boost exports by creating a favourable atmosphere to export industries, diversification of export markets and the development of export support services. Export subsidisation was introduced in 1962 primarily to offset the penalties that quantitative restrictions imposed, in effect, on exports. This period could be classified under Phase II. The economy entered Phase III in the second half of the 60s (1966-68) with a devaluation in dune 1966 to systematize and rationalise the export incentive system. At the same time, export subsidies were reduced, export duties imposed, and import duties were reduced. The net devaluation after allowing for these changes was, on an average, less than the gross devaluation of 57.5 percent and varied among commodities. According to Bhagwati and Srinivasan, the total net devaluation on the trade account was 21.6 percent for exports and 42.3 percent for imports. Consequently, the net effect was a further stimulation of import substitution over export production. At the end of sixties up to the mid seventies (1968-75) the hesitant steps towards liberalisation introduced with devaluation were abandoned. The country moved back to Phase II. Export subsidies were reinstated and augmented. Import policy became increasingly restrictive and complex. This was due to various shocks which the economy

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