What is India's current EXIM policy? How does it affect growth of localbusiness?
Answers
Answer:
EXIM policy is also known as Foreign Trade Policy. The Ministry of Commerce and Industry under government of India announces EXIM Policy after every five years. The general provisions under imports and exports are calculated under EXIM policy.
In this year's EXIM policy, around 300 products from the garment sector were revised
CSNL Cardinol and Tea were included for all the new benefits
More than 250 products were added under FPS that comes under Rubber, Electronics, Coconut water
These things put a lot of effect on current local business of our country (India). Because of this, India have seen a lot of development
Explanation:
Answer:
India's current EXIM policy is of 2015-2020 and created new jobs for local business.
Explanation:
- The government of India's ministry of commerce and industry makes the Export and import policy. It's announced each year and is made on 31st March of every year.
- The EXIM policy of 2015 to 2020 applicable till march has been extended to 31st March 2021 by the DGFT.
- The schemes of Merchandise exports and Service exports from India have replaced earlier schemes. Both will get subsidized space in SEZ. Reduce the export obligation to boost domestic make in India connect. Duty credits scops to be freely transferred.
- It has led to doubled share of India's trade, reduces the complexities, and encourages entrepreneurship, generation of new employment and provides quality products at a reasonable rate.
Learn more about the India's current EXIM policy. How does it affect growth of local business.
- brainly.in/question/11002413 answered by Ritiksuglan.