India's Foreign Trade Policy

The primary objective of India's Foreign Trade Policy is to promote exports and reduce imports, thereby improving the country's balance of trade.

Foreign exchange controls are not an instrument of Foreign Trade Policy, but rather a monetary policy tool used to manage the value of a country's currency.

Tariffs protect domestic industries from foreign competition by increasing the cost of imported goods, making them less competitive in the domestic market.

Export subsidies make domestic goods more competitive in the international market by reducing the cost of production and increasing the demand for domestic goods.

Quantitative restrictions protect domestic industries from foreign competition by limiting the quantity of imported goods that can be brought into the country.

Foreign exchange controls increase the cost of imported goods by making it more expensive to purchase foreign currency.

Tariffs increase the cost of imported goods, reduce the demand for imported goods, and generate revenue for the government.

Export subsidies do not have a direct impact on consumers, as they are paid to exporters rather than consumers.

Quantitative restrictions increase the cost of imported goods, reduce the availability of imported goods, and generate revenue for the government.

Foreign exchange controls increase the cost of imported goods, reduce the availability of imported goods, and generate revenue for the government.

The main objectives of India's Foreign Trade Policy 2015-2020 are to promote exports and reduce imports, attract foreign investment, create employment opportunities, and enhance the competitiveness of Indian industries.

The main instruments of India's Foreign Trade Policy are tariffs, quantitative restrictions, export subsidies, and foreign exchange controls.

India's Foreign Trade Policy has a positive impact on the country's economy by promoting economic growth, creating employment opportunities, improving the balance of trade, and attracting foreign investment.

India faces a number of challenges in implementing its Foreign Trade Policy, including the global economic slowdown, protectionist policies of other countries, lack of infrastructure, and high cost of doing business.

The future prospects of India's Foreign Trade Policy are positive, with the potential for increased exports and reduced imports, attraction of more foreign investment, creation of more employment opportunities, and enhancement of the competitiveness of Indian industries.