The Foreign trade Policy has _______a)Identified certain thrust areas ...
Foreign Trade Policy. The Foreign Trade Policy (FTP) was introduced by the Government to grow the Indian export of goods and services, generating employment and increasing value addition in the country. The Government, through the implementation of the policy, seeks to develop the manufacturing and service sectors.
SO OPTION D IS CORRCT.
The Foreign trade Policy has _______a)Identified certain thrust areas ...
Foreign trade policy refers to the set of guidelines and regulations implemented by a country to govern its international trade activities. It aims to promote and regulate exports and imports, boost economic growth, and enhance the country's competitiveness in the global market. The correct answer to the given question is option 'D' - All of the above. Let's discuss each of the options in detail:
a) Identified certain thrust areas for growth:
Under the foreign trade policy, the government identifies specific sectors or industries that have the potential for growth and development. These sectors are known as thrust areas. By focusing on these sectors, the government aims to enhance their competitiveness and increase their contribution to the country's economy. This identification helps in channelizing resources and implementing policies that support the growth of these sectors.
b) Started served from India brand:
The foreign trade policy also focuses on promoting the "served from India" brand. This brand signifies that services provided by Indian companies have a global reputation for quality and reliability. The policy aims to boost the export of services from India and position the country as a global service provider. This initiative helps in attracting foreign exchange and creating employment opportunities in the service sector.
c) Started duty-free export credit:
The foreign trade policy also includes provisions for duty-free export credit. This means that exporters can avail credit facilities without having to pay any duty on the goods being exported. This helps in reducing the cost of exports and making Indian products more competitive in the international market. Duty-free export credit encourages exporters to expand their businesses and explore new markets without the burden of additional costs.
In conclusion, the foreign trade policy has identified certain thrust areas for growth, started the "served from India" brand promotion, and introduced duty-free export credit. These measures aim to enhance the competitiveness of Indian products and services in the global market, boost economic growth, and facilitate international trade.