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DRIVE-SPRING
2014
PROGRAM-MBADS
(SEM 4/SEM 6) MBAFLEX/ MBAN2 (SEM 4) PGDIB (SEM 2)
SUBJECT
CODE & NAME-IB0015- Foreign Trade of India
BK
ID-B1908
CREDIT
& MARKS--4 CREDITS, 60 MARKS
Q1.
Give a brief overview of India’s foreign trade since independence.
(Seven
phases) 10
Answer.
India’s
foreign trade since liberalization
The reversal of the trends in the
export growth during 1990-91, and thereafter, required a massive export thrust.
Since July 1991 the Government of India initiated the process of economic
reforms aimed at globalization and liberalization of Indian economy. A number
of policy changes were announced leading to the declaration of the
Export-Import Policy 1992-97. This policy brought about all round liberalization
of exports and imports. The
Q2.
What is the role of services exports in recent years in India’s composition of
trade? Discuss.
(India
and services trade) 10
Answer.
Role
of services exports in India’s composition of trade
Composition of Indian
exports has registered a number of structural changes during the planning
period. There has been a decline in the importance of agricultural and allied
products and a substantial increase in the importance of manufactured products.
Q3.
Discuss the salient features of Foreign Trade Policy 2009-14.
(Objectives,
Aims, schemes and announcements) 4, 6
Answer.
Features
of Foreign Trade Policy 2009-14
The Ministry of Commerce,
Government of India announced on 27th August 2009 Foreign Trade Policy (2009-2014)
of India replacing the then existing Export- Import Policy: 2004-09. The
present policy shall remain in force from August 27, 2009 to 31st March, 2014.
Q4.
Write short notes on:
a.
Export promotion councils
b.
India Trade Promotion organization
(Role
of Export promotion councils, Role of India Trade Promotion organization)5,5
Answer.
a.
Export promotion councils
There are 35 Export Promotion
Councils (EPCs) and Commodity Boards (CBs) which have been set up in the
country to promote and strengthen the effort for export specific commodities.
These EPCs and CBs also function as registering authorities under the Foreign
Trade Policy for registered exporters. Membership-cum-Registration with these
EPCs and CBs is compulsory for obtaining benefits under the Foreign Trade
Policy of the Government of
Q5.
What are Special Economic Zones? Write one sentence each on any 5 SEZs in
India.
(Meaning
and role of SEZ, 5 SEZ)5,5
Answer.
Special
Economic Zones
A special economic zone (SEZ) is a geographical region
that is designed to export goods and provide employment. SEZs may be exempt
from laws regarding taxes, quotas, Foreign Direct Investment (FDI)-bans, labour laws and other restrictive laws in order to
make the goods manufactured in the SEZ at a globally competitive price.
Q6.
What is the need and role of Focus Market Scheme? Discuss in detail.
(Focus
market scheme) 10
Answer.
Need
and role of Focus Market Scheme
The objective of the scheme is to
offset the high freight cost and other disabilities faced in accessing select
foreign markets as to enhance the export competitiveness in these markets. The
scheme allows duty credit scrip @ 3% of the FOB value of exports irrespective
of the product they export to notified countries as in Appendix 37C of Handbook
of Procedures (Vol 1). A number of countries mainly from Latin America, Africa
and CIS Blocks constitute the group which have been identified for benefits
under the focus market scheme. This product-market matrix as identified above
has been granted special new incentives in the current policy.
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