KMC COLLEGE OF LAW,

TIRUPUR

ASSIGNMENT

SUBJECT : INDIAN ECONOMY

SUBJECT CODE : FA2C

ASSIGNMENT TOPIC : EXPORT AND IMPORT POLICIES

ASSIGNMENT NUMBER : 01

NAME : JEGATH BALAJI.A.M.D

COURSE : 1ST YEAR B.A.LLB

DATE OF ISSSUE OF ASSIGNMENT : 12.02.2024

DATE OF SUBMISSION : 24.02.2024

SUBMITTED TO - PROF. KRISHNAN.R

SUBMITTED BY ,

NAME : JEGATH BALAJI.A.M.D

BATCH : 2023- 2028

COURSE : B.A.LLB

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 EXPORT AND IMPORT POLICIES

Table of Contents
EXPORT AND IMPORT POLICIES.....................................................................................................2

Objective of the study:........................................................................................................................2

Introduction:........................................................................................................................................2

Review of literature:............................................................................................................................3

History of the study:............................................................................................................................3

Analysis of the study:..........................................................................................................................4

Conclusion:..........................................................................................................................................4

Bibliography:.......................................................................................................................................4

Webliography:.....................................................................................................................................5

Objective of the study:

The object of the study on export and import policy is to analyse and understand the
regulations strategies and framework governing the cross-border movement of goods and
services.this research aims to investigate the impact of export and import policies on
international trade, economic growth and market dynamics.It delves into the legal and
administrative aspects, exploring tariff structure,trade agreement and customs procedures.the
study also asses the role of government interventions in shaping trade policies,addressing
issues of protection and free trade.By scrutinizing historical trends and current practices,it
seeks to provide insights into optimizing policy framework for fostering sustainable
economic development, fostering global competitiveness and promotion fair and equitable

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trade practices.Ultimately the object is to contribute to informed decision-making for
policymakers, businesses,and stakeholders involved in international trade

Introduction:

Export and import plays a vital role in shaping a nation’s economic landscape by governing
the movement of goods across borders.these policies established by governments,
encompasses a set of regulations, restrictions and requirements that guide international
trade.Export policies outline the conditions for sending goods abroad encompassing aspects
such as licensing quotas and tariffs.Conversely import policies dicate the terms under which
foreign goods can enter a country involving measures like customs duties and import
quotas.these regulations are essential for maintaining economic stability national security and
fair trade practices.A clear understanding of export and import policies is crucial for business
to navigate the complexities of global community and ensure compliance with legal
frameworks, fostering a harmonious and regulated international trade environment.

Review of literature:
According to him,the political economy of India and exchange control regimes,before
reforms were initiated in 1991,can be understood from the implication of its selective,
discretionary and non-market oriented character.first, macroeconomic instruments, including
most importantly the exchange rate of rupee, were never used to address balance of payments
except for the rupee devaluation of 1966.Given that QRs on imports were substantially below
market demand,the domestic price of an imported commodity far exceeded its land cost
inclusive of tariff duties and other taxes.As such there were rents associated with licence to
import.Thus to power to grant a licence meant power to confer the right to rent to the rent
involved.Since the domestic price of an imported commodity and hence the rent to be earned
per unit of import,would depend on the total quantity of imports allowed in ,the licence
authority not only conferred the right to the rent but also determined its amount. (Chaudhari,
2017)

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Foreign trade has a vital role to play in the economic development of a nation.It has assumed
enormous importance and significance in modern 2days because of the growing
specialization and territorial division of labour and consequent inter-dependence of
economies.A developing economy has to break the vicious circle of poverty, attain self-
sustained growth and transform itself into an industrialized one from the agrarian level.For
this,it req6 resources which can be had only through foreign trade,viz through imports and
exports. (S.Sankaran, 2022)

History of the study:

On the year of 1992 the EXIM policy enacted for the period of 5 years .In the year of EXIM
policy 1992-1997 In order to liberalized imports and boost exports,the Government of India
for the first time introduced the Indian EXIM Policy on April 1,1992.In order to bring
stability and continuity,the Export Import Policy was made for the duration of 5
years.However, the Central Government reserves the right in public interest to make any
amendments to the trade Policy in exercise of the powers conferred by Section-5 of the Act.
(EXIM policy, n.d.)

Other than providing financial assistance,the Export and Import Bank of Indian Bank is
always looking for ways to promote the foreign trade sectors in India.In the early
1990s,EXIM introduced a program in India known as the Clusters of Excellence.The aim was
to improve the quantity standard of our imports and exports.It also has a tie-up with the
European Bank for Reconstruction and Development.It has agreed to co-financed programs
with them in eastern Europe. (toppr, n.d.)

Analysis of the study:

The study on the EXIM policy presents Multifaceted examination of the trade Dynamics
within the country.The Policy’s stated objectives are pivotal, aligning with overarching
economic goals,yet their realisation requires scrutiny.Evaluating the impact on the trade
balance reveals advanced trends in exports and imports,shedding light on the policy’s

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efficacy A critical lens is essential in assessing trade barriers and facilitators introduce as they
directly influence the ease of international transactions and market access for
businesses.Furthermore,sector specific implications unveil divergent impacts across
industries necessitating a tailored approach for comprehensive policy assessment.

Conclusion:
In conclusion,the study on the EXIM policy underscores it’s pivotal role in shaping the
nation’s economic landscape.The policy’s objectives align with broader economic goals,
necessitating a nuanced evaluation of their implementation.Anlaysis of trade balance
trends,trade barriers,sector -specific implications reveals the intricate dynamics at play.
Effective compliance and enforcement mechanism are crucial for the policy’s success in
fostering a conducive international trade environment.the global competitiveness of the
nation’s products emerges as a key indicator of the policy’s impact on market presence and
resilience . Macroscopic effects,including GDP growth and employment, contribute to a
holistic understanding of the policy’s broader economic implications.the conclusion drawn is
that the EXIM policy’s continued success hinges on adaptability to evolving global trade
Dynamics, robust enforcement,and strategic foresight to ensure sustained economic
development.

Bibliography

Chaudhari, C. S. (2017). Practical Guide on How to Start Export-Import Business: Unlock

Your Future.

S.Sankaran. (2022). Indian economy.

Webliography:

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1. https://www.exim-policy.com/#:~:text=liberalize%20imports%20and%20boost
%20exports,the%20duration%20of%205%20years
2. https://www.toppr.com/guides/commercial-knowledge/organizations-facilitating-
business/export-and-import-bank-of-india-exim/#:~:text=Importance%20of%20the
%20EXIM%20Bank&text=In%20the%20early%201990s%2C%20EXIM,Bank
%20for%20Reconstruction%20and%20Development