The Salient Features of Export-Import Policy 2002-2007
The salient features of Export-Import Policy 2002-2007 are as follows:
The salient features of Export-Import Policy 2002-2007 are as follows:
The import of India has increased significantly after independence. There is being more emphasis on industrialization after Second Five Year Plan. Industrialization needs import of large quantity of machineries and petroleum products.
Free sample Essay on import export business in India. Though export of India has increased but its growth rate is less compared to with growth-rate of import as a result of which there is deficit in the balance of trade.
The difference of export and import of goods and services is a part of domestic income. Here services mean non-factor services like banking, shipping, insurances etc. These services are different from the factors services such as labour, capital, etc.
The Export-Import (EXIM) Bank of India is the principal financial institution in India for coordinating the working of institutions engaged in financing export and import trade. It is a statutory corporation wholly owned by the Government of India.