English, asked by praneethashivap3503, 1 year ago

Q. 4. What is International Trade? Explain various Trade Reforms related to foreign trade announced in India in recent times.

Answers

Answered by Answers4u

International Trade refers to the buying and selling activities which take place between two countries.

When a country buys a good or service, it is called Imports and when a country sells a good or service, it is called Exports.

Our present government has launched a Foreign Trade Policy Statement ( FTPS) which will promote foriegn trade in critical industries by providing finance, subsidies and tax incentives.

Quantity based restrictions have been removed from agricultural products and foreign investments norms have been modified to suit the requirements of Foreign Institutional Investors ( FII).

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