Search results
Results from the WOW.Com Content Network
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]
Foreign Trade (Development and Regulation) Act, 1992: This Act regulates the import and export of goods in India, including bullion. The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry is responsible for issuing licenses for the import and export of bullion.
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India's commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, 6 PBs, 43 RRBs, and 2 LABs.
The Export-Import Bank of India (Exim Bank) was founded by the Government of India under the Export-Import Bank of India Act, 1981, which was introduced in the Indian Parliament by the then Finance Minister, Shri Pranab Mukherjee. The act was passed by both houses of parliament and received the assent of the President of India on 7 April 1982 ...
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 ...
India has removed import duties on some components key to producing mobile phones, Finance Minister Nirmala Sitharaman announced in the annual budget on Saturday, in a boost for local production ...
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 ...