BBA 3rd Year India Trade Policy Very Short Question Answer Paper

BBA 3rd Year India Trade Policy Very Short Question  Answer  Paper Sample papers Study Material And Notes Unit-wise Syllabus Noes Full Content.

BBA 3rd Year India Trade Policy Very Short Question  Answer  Paper
BBA 3rd Year India Trade Policy Very Short Question Answer Paper


BBA 1st 2nd 3rd Year Study Material Notes

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Section-A

Very Short Answer Questions).

0.1. What do you mean by EXIM policy of India?

Ans. The foreign trade of India is guided by the export-import policy of the government of India and is regulated by the Foreign Trade Act 1992.

Q.2. What are the general objectives of the EXIM policy?

Ans. The general objectives of the EXIM policy are given as under:

(a) To establish the framework for globalisation of

India’s foreign trade.

(b) To promote the productivity, modernisation and

competitiveness of Indian industry and thereby to

enhance its export capabilities.

Q.3. What are the objectives of foreign trade policy?

Ans. The objectives of foreign trade policy are as follows:

(a) To double India’s percentage share of global

merchandise trade within the next five year.

(b) To act as an effective instrument of economic growth

by giving a thrust to employment generation.

Q.4. What are the main highlights of foreign trade policy?

Ans. The main highlights of foreign trade policy are given as under:

(a) Sectoral export strategies : special focus initiatives.

(b) Export promotion schemes.

(c) New status holder categorisation.

(d) Services export promotion council.

Q.5. What are the suggestions provided in the trade policy during 2004-09?

Ans. Following are the suggestions provided in the trade policy during 2004-09:

(a) The procedure can be simplified through more use of

automation and information technology.

(b) The FTP makes sure that Kelkar committee

recommodation, which enlists the best international

practices on trade facilitations are implemented.

BBA 3rd Year Strategy Evaluation Long Question Answer
BBA 3rd Year Strategy Evaluation Long Question Answer

0.6. What are the highlights of new foreign trade policy 2009-14?

Ans. These are as follows:

(a) Market and product diversification.

(b) Technological upgradation.

(c) Value added manufacturing.

0.7. Define the term SEZ.

Ans. Considering the need to enhance foreign investment and promote export from the country and realising the need that the level playing field must be made available to the domestic enterprises ind manufactures to be competitive globally, the government had in April 2000 announced the introduction of special economic zones policy in the country, deemed to be foreign territory for the purpose of trade operation, duties and tariffs.

Q.8. Give any two features of the Indian SEZ initiative.

Ans. The two features of the Indian SEZ initiative are as follows:

(a) Unlike most of the international instances where zones are primarily developed by

governments, the Indian SEZ policy provides for development of these zones in the

government, private or joint sector.

(b) For greenfield SEZs, the government has specified minimum preferable area of 1000

hectares. However, for sector specific SEZs there is no restriction of minimum cost.

Q.9. What are the incentives and benefits provided in the SEZs policy?

Ans. These are as follows:

(a) 100% income tax exemption for a block of five years and an additional 50% tax exemption two years thereafter.

(b) 100% FDI in the manufacturing sector permitted through automatic route, barring a few sectors.

(c) Facility to retain 100% foreign exchange receipt in exchange earner’s foreign currency account.

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