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The services trade (exports and imports) are not part of commodities trade. The trade surplus in services trade is US$70 billion in the year 2017–18. [54] Counting the European Union (EU) as one, the World Trade Organisation ranks India fifth for commercial services exports and sixth for commercial services imports. [55]
The following are notable international schools in India. Such schools follow an international curriculum (such as International Baccalaureate, Edexcel, International General Certificate of Secondary Education (IGCSE) or Cambridge Assessment International Education) or they follow a specific national curriculum different from curricula common ...
The Indian Institute of Foreign Trade (IIFT) is a public business school headquartered in New Delhi, Delhi, India. It has been proposed to be declared as an Institute of National Importance by the Government of India. [4] Established in 1963, it functions under the Ministry of Commerce and Industry of the Government of India.
At present, the Director-General formulates Foreign Trade Policy and Hand Book of Procedures of Foreign Trade Policy and ITC (HS) Classifications of Import and Export Items. The Director-General heads an organization known as the Directorate General of Foreign Trade. The organization has its offices known as Regional Authority (RA) and Zonal ...
India, however, continues to have a trade deficit, relying on foreign capital to maintain its balance of payments and as such, makes it vulnerable to external shocks. [ 49 ] Foreign investment in India in form of foreign direct investment , portfolio investment , and investment raised on international capital markets increased significantly ...
In general, PTAs do not cover substantially all trade. The India Mercosur Preferential Trade Agreement is an example of a PTA. [2] A free trade agreement (FTA) also involves reducing or eliminating tariffs on items traded between the partner countries; however each maintains individual tariff structure for non-members.
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.
This tight control over foreign investment became a core part of a broader policy of import substitution industrialisation, the belief that countries like India needed to rely on internal markets for development, not international trade. To achieve this goal, the Indian government erected strict import restrictions and a complex system of ...