What is the World Trade Organization (WTO)? The World Trade Organization (WTO) is an international body that deals with the global rules of trade between nations. Established in 1995, its primary goal is to ensure that trade flows as smoothly, predictably, and freely as possible. It provides a platform for negotiating trade agreements, settling trade […]
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India’s Foreign Exchange Management Act (FEMA) 1999 Introduction: Foreign Exchange Management Act (FEMA) might sound like a mouthful, but it’s a crucial piece of legislation in India that affects anyone involved in foreign transactions, whether it’s individuals, businesses, or financial institutions. In this blog post, we’ll break down Foreign Exchange Management Act(FEMA) in simple terms,
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Revealing the Concept and History of SEZs in India In the dynamic landscape of economic development, Special Economic Zones (SEZs) have emerged as catalysts for growth, shaping the destiny of nations worldwide. India, with its vast and diverse economy, is no exception. Let’s delve into the intriguing concept and rich history of SEZ in the
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Foreign Trade Policy (FTP) (2015-2020) In the dynamic landscape of international commerce, nations must craft strategic policies to navigate the global waters. India, a key player in the world economy, unveiled its Foreign Trade Policy (FTP) for the period 2015-2020, outlining a roadmap for enhancing trade and economic engagement on the global stage. Table of
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Trade Policy in India’s Post-Reform Era In the vast tapestry of India’s economic landscape, trade policy plays a pivotal role, acting as a dynamic force that shapes the nation’s interactions with the global economy. As we step into the post-reform period, it’s crucial to understand the nuances and impact of India’s trade policies on both
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India’s Export Policy: A Journey through the Pre-Reform Period Introduction: India’s economic landscape has undergone significant transformations over the years, and understanding the nuances of its export policy is essential to grasp the trajectory of its development. In this section, we’ll delve into the pre-reform period, a crucial chapter in India’s economic history, to explore
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Understanding India’s Import Policy in the Pre-Reform Era The import policy of the Government of India in the pre-reform period had two important constituents: (1.) Import restrictions and (2.) Import substitution. It was formulated keeping in view the limited foreign exchange reserves of the country, shortages of essential consumer goods in the economy, requirements of
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Managing India’s Balance of Payments Introduction: The dynamic nature of international trade and finance is a crucial aspect of a country’s economic well-being. In the case of India, the management of the Balance of Payments (BoP) is akin to steering a ship through ever-changing global waters. This article delves into the intricacies of how India
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India’s Economic Evolution: A Journey Through the India’s Balance of Payments Since 1991 Introduction: India’s balance of payments (BoP) is like the financial report card of a country, detailing its economic transactions with the rest of the world. Since the liberalization of the Indian economy in 1991, the India’s balance of payments (BoP) has been
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Meaning of Balance of Payments A balance of payments statement is essentially a double -entry system of record of all economic transactions between the ‘residents’ of a country and the rest of the world carried out in a specific period of time. In the vast ocean of economic terms, the Balance of Payments (BoP) stands
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