REVIEW OF FOREIGN TRADE POLICIES OF INDIA With special reference to Special Focus Initiatives and Promotional Schemes

Abstract

India’s foreign trade has been always regulated by the government of India under the purview of various acts and regulations amended from time to time. India’s foreign trade policies have been focusing on increasing its exports as a supplement to the growth of GDP. Its policies have been mainly focusing on providing assistance to small and medium traders and enterprises. The study below is a review of FOREIGN TRADE POLICIES of India from 2004-2009 and 2009-2014, with special reference to its two assistance programs: special focus initiatives and promotional measures. The study concludes that India at present is focusing on schemes like market diversification and product diversification so that its share exports to LDC’s can increase and it can achieve its target of 5% share in world trade by 2020.

Keywords: foreign trade policy, special focus initiatives, focus product schemes, market development assistance.