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Foreign trade in India includes all imports and exports to and from India. At the level of the Central Government , trade is administered by the Ministry of Commerce and Industry . [ 1 ] Foreign trade accounted for 48.8% of India's GDP in 2018.
According to the Ministry of Commerce and Industry, the fifteen largest trading partners of India represent 61.67% of total trade by India in the financial year 2022–23. [1] These figures include trade in goods and commodities , but do not include services or foreign direct investment .
The Merchandise Export from India Scheme (MEIS) is a government initiative implemented by the Government of India with the objective of encouraging exports. [1] [2] It was launched on April 1, 2015, as a part of the Foreign Trade Policy (FTP) to boost India's exports of goods and services. [3] [4]
[343] [344] Foreign trade accounted for 48.8% of India's GDP in 2015. [345] Globally, India accounts for 1.44% of exports and 2.12% of imports for merchandise trade and 3.34% of exports and 3.31% of imports for commercial services trade. [344] India's major trading partners are the European Union, China, United States and United Arab Emirates ...
The department is entrusted with formulating and implementing the foreign trade policy and responsibilities relating to multilateral and bilateral commercial relations, state trading, export promotion measures, and development and regulation of certain export oriented industries and commodities.
ASEAN-India Trade in Goods Agreement: CECA ASEAN: 13 August 2009 1 January 2010 [7] ASEAN-India Trade in Services Agreement: November 2014 1 July 2015 [7] [19] ASEAN-India Investment Agreement: November 2014 1 July 2015 [7] [19] Global System of Trade Preferences (GSTP) PTA 41 countries 13 April 1988 19 April 1989 India Mercosur Preferential ...
Indian foreign policy makers say that India's interests in the GCC countries are intimately linked with its energy security, trade, employment for Indians and remittances while Middle Eastern foreign policy experts believe that India has showcased itself as "Security Partner" during Modi's visit to UAE. Given the economic and human security ...
The Department for Promotion of Industry and Internal Trade (DPIIT) is a central government department under the Ministry of Commerce and Industry in India. It is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives.