New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    The Foreign Trade Policy of India, in short EXIM Policy

    of the Indian Government is regulated by?
    A Foreign Trade Development and Regulation Act Correct Answer Incorrect Answer
    B Directorate General of Foreign Trade Correct Answer Incorrect Answer
    C Imports and Exports (Control) Act Correct Answer Incorrect Answer
    D Both I & 2 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Exim Policy or Foreign Trade Policy is a set of guidelines and instructions established by the DGFT in matters related to the import and export of goods in India. The Foreign Trade Policy of India, in short EXIM Policy of the Indian Government is regulated by the Foreign Trade Development and Regulation Act, 1992. DGFT (Directorate General of Foreign Trade) is the main governing body in matters related to Exim Policy. The main objective of the Foreign Trade (Development and Regulation) Act is to provide the development and regulation of foreign trade by facilitating imports into, and augmenting exports from India. Foreign Trade Act has replaced the earlier law known as the imports and Exports (Control) Act 1947.

    Practice Next