Exim Policy | India Exim Policy | Foreign Trade Policy

By Author: Kate
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Export import policy or Exim policy is defined by DGFT under the Ministry of Commerce and Industry of the Government of India responsible for administering laws regarding foreign trade and foreign investment in India. All the export and import related activities come under Director General of Foreign Trade (DGFT). To promote foreign trade, there are several decisions made by this department and various amendments are made in the policy from time to time as per the requirements to increase the foreign trade.
The main purpose of government is to increase the export of goods, promote the exporters, and increase the foreign investment through its Exim policy or foreign trade policy. The traders or the people involved directly or indirectly in Exports and Imports have to follow these rules without any fault.
New Export import policy is made every five years by the Ministry of Commerce under the government of India. Government sets the foreign trade target for every five years. New Exim Policy is announced every year on March 31st and all the amendments are effective from April 1st.
Export import policy is divided ...
... into two parts one is export policy and other is import policy. The main aim of the government is to increase the export of goods taking care of any shortage of a particular commodity within the country. If a certain commodity is scare within the country then the government bans exports of such commodity in the general interest of the people of its country. In the import policy government regulates the imports of various products into the country keeping in mind the demand for foreign products within the country as well as domestic industry operating within the country. So without any effect on our internal industry by these external products government makes changes in its plan for import policy by various methods. Imports are regulated by tariff and non tariff measures. While tariff measures include levying various kinds of tariffs/duties on imports, non tariff measures include measures like anti dumping duties, Import licensing requirement, quota restrictions, Embargoes.
We can say that government has full control on all export and import products. Exim Policy helps to improve the economic growth by maintaining healthy Balance of Payment.

Key points of Foreign Trade Policy for 2010-11 (Apr-Mar) unveiled by Trade Minister Anand Sharma.
Development plan
• FY11 export target $200 billion
• Definitely on course to achieve FY11 export target
• Export growth now in positive trajectory
• India's Apr-Jun exports up 32% on year
• India's Oct-Mar export growth 19.60025
• Aiming at 25% export growth annually until 2014
• India to double export volume by FY14