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Master of Business Administration- MBA Semester 4
IB0015–Foreign Trade of India -4 Credits
(Book ID: B1144)
Assignment (60 marks)
Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.
Q1. Discuss in brief the various laws which govern India’s export and import trade.
Answer. Imports and exports are the two important components of a foreign trade. Foreign trade is the exchange of goods and services between the two countries, across their international borders. ‘Imports’ imply the physical movement of goods into a country from another country in a legal manner. It refers to the goods that are
Q2. Discuss the salient feature of foreign trade policy 2009-14.
Answer. The new Foreign Trade Policy (FTP) takes an integrated view of the overall development of India’s foreign trade and goes beyond the traditional focus on pure exports.
This would be clear from the following statement in the policy document, “Trade is not an end in itself, but a means to economic growth and rational development. The primary purpose is not the mere earning of foreign exchange, but the stimulation of greater economic activity.”
Q3.Describe the role of Export Credit Guarantee Corporation (ECGC) with its benefits for exporters.
Answer. What is ECGC?
Export Credit Guarantee Corporation of India Limited, was established in the year 1957 by the Government of India to strengthen the export promotion drive by covering the risk of exporting on credit.
Being essentially an export
Q4.Write a note on thrust export products from India.
Answer. Exports are the major focus of India’s trade policy and a thrust area is exports involving higher value additions. Most items can be freely exported from India. A few items are subject to export control in order to avoid shortages in the domestic market, to conserve national resources and to protect the environment
Q5.Explain how Indian government supports the various status holders?
Answer. In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) and sub-section (3) of section 3 of the Additional Duties of Excise (Textiles and Textile Articles) Act, 1978 (40 of 1978), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts capital goods specified in the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), when cleared against a Status Holder Incentive Scheme duty credit scrip issued to a Status Holder by the Regional Authority in
Q6.Write short notes on
(a) WTO
Answer. The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on 1 January 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948.The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants’ adherence to WTO agreements, which are signed by representatives of member
(b) FEMA
Answer. The Foreign Exchange Management Act (1999) or in short FEMA has been introduced as a replacement for earlier Foreign Exchange Regulation Act (FERA). FEMA became an act on the 1st day of June, 2000. FEMA was introduced because the FERA didn’t fit in with post-liberalisation policies. A significant change that the FEMA brought with it, was that it made all offenses regarding foreign exchange civil offenses, as opposed to criminal offenses as dictated by FERA.
The main objective behind the Foreign Exchange Management Act (1999) is to consolidate and amend the law relating to
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