INDIA’S FOREIGN TRADE POLICY

Paper Code: 
MIB 227
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

CO 89: : Describe the composition of India’s foreign trade along with trends and direction of foreign trade and understand the concept of Balance of Payment

CO 90: Understand the Export-Import Regulatory Framework and will get acquainted with the objectives and main provisions of Current Foreign Trade Policy of India.

CO 91: Illustrate the objective and significance of various Institutional infrastructures for the growth and development of Foreign Trade.

CO 92: Identify various Export Promotion Measures, Incentives and Assistance offered by the Government of India to help the exporters and importers of the country.

CO 93: Understand the various levels of Regional Economic Integration and get acquainted with their objectives.

CO 94: Develop the knowledge of India’s Foreign Trade pattern

 

Unit I: 

 

India’s foreign trade: Composition of India’s foreign trade, export of principal commodities from India, import of principal commodities in India, Trends and direction of foreign trade, Major problems of India’s export sector. Balance of Payment: Concept, Components of BOP, Balance of trade, Importance of BOP.
 

Export-Import Trade regulatory Framework: Foreign Exchange Management Act (FEMA), Customs Act, Export( Quality control and inspection) Act.

Current Foreign Trade policy of India: Objectives, Main provisions.

Institutional infrastructure for Foreign Trade: Director General of Foreign Trade (DGFT), Export Promotion Council (EPC), Commodity Boards, Indian Institute of foreign trade (IIFT), Export Import Bank of India (EXIM), Export Inspection Council (EIC), Indian Institute of Packaging (IIP), Indian Council of Arbitration (ICA), India Trade Promotion Organization (ITPO), Federation of Indian Export Organizations (FIEO).

Export promotion measures in India: Export Processing Zones (EPZ), Export Oriented Units (EOU), EPIP, Special Economic Zones (SEZ), Software Technology Park (STP), Electronic Hardware Technology Park (EHTP), Export & Trading Houses. Incentives & Assistance:Export Promotion Capital Goods Scheme (EPCG), Duty exemption, Duty drawback, Tax Exemption, Market Development Assistance, Market Access Initiative.

Regional Economic Integration: Levels of Regional Economic Integration-Free trade area, customs union, economic union and common market, Generalized System of Preferences (GSP), Global System of Trade Preferences (GSTP).

Objective & importance of establishment of South Asian Association for Regional Cooperation (SAARC), Association of South East Asian Nation (ASEAN), European Union (EU), South Asian Free Trade Area (SAFTA)

Essential Readings: 

ESSENTIAL READINGS:

  • P. Subba Rao : International Business International Business: Rakesh Mohan Joshi
  • Handbook of Export Import, Nabhi Publication
  • Jain & Singh, Modern International Business, Regal Publications 2007, New Delhi.

SUGGESTED READINGS:

  • International Marketing: M J Methew
  • Thakur & Mishra : International Business.

 

References: 

E-RESOURCES:

  • International Business, Aswathappa, McGraw Hill Education

https://www.expresslibrary.mheducation.com/bookshelf

JOURNALS:

  • Foreign Trade Review
  • The Indian Journal of Commerce
  • Asian Journal of Management Cases

 

 

ACADEMIC YEAR: 
2022-2023
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