Question

Explain various trade reforms related to foreign trade announced in india in recent times.

Answer 1

Commerce Ministry releases Foreign Trade Policy 2015-2020
New foreign trade policy: $900 bn exports by FY20
the target to double India’s exports in goods and services over the next five years (from $465 billion to $900 billion) and upping the Indian share of the world exports pie from the current 2 percent to 3.5 percent over the same period.
Exports through Make in India underlined in FTP: Commerce Minister Nirmala Sitharaman

Answer 2

International trade is the trading of products and enterprises between nations. This kind of exchange offers to ascend to a world economy, in which costs, or free market activity, influence and are affected by worldwide events.

Trading universally gives buyers and nations the chance to be presented to products and enterprises not accessible in their own particular nations. Relatively every sort of item can be found on the universal market: food, garments, spare parts, oil, gems, wine, stocks, currencies, and water.

An item that is sold to the worldwide market is an export, and an item that is purchased from the worldwide market is an import. Imports and fares are represented in a nation's current record in a balance of payments.