Objectives of India Export-Import Exim Policy

By | September 12, 2017

A new export and import policy were framed in 1992 which was effective till 1997. Since then new changes have been made in the policy to achieving the following objectives:

  1. To enhance the level of exports;
  2. To improve the balance of payment;
  3. To improve the balance of trade;
  4. To enhance the reverse of foreign exchange;
  5. To allow import of technology and equipment’s which may help in establishing new industrial enterprises, produce new products and adopt a new process for higher production levels.
  6. To ensure the availability of goods for the domestic consumption and to allow exports so that the producers get a fair price;
  7. To allow import of certain goods as listed in the Open General Licence;
  8. To allow for hassle free exports and imports;
  9. Reducing the interface between the exporters and Director General of Foreign Trade by reducing the number export documents;
  10. Establishing Advance Licencing System for imports of goods needed for manufacturing various goods for export;
  11. Removal of the provisions to proceed realization;
  12. Establishing of Export oriented units and Export Processing Zones specifically for goods meant to be produced for exports only;
  13. To accelerate the country’s transition to a globally oriented vibrant economy to deriving maximum benefits from expanding global market opportunities;
  14. To enhance the technological strength and efficiency of Indian agriculture, industry, and services there by improving their competitive strength while generating new employment opportunities. It encourages the attainment of internationally accepted standards of quality of Indian exports; and
  15. To provide consumers with good quality products at reasonable prices through regulated imports of such products.