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The economic liberalisation in India refers to the series of policy changes aimed at opening up the country's economy to the world, with the objective of making it more market-oriented and consumption-driven. The goal was to expand the role of private and foreign investment, which was seen as a means of achieving economic growth and development.
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.
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.
India Mauritius Comprehensive Economic Cooperation and Partnership Agreement CECPA 22 February 2021 1 April 2021 [7] Thailand: India Thailand Free Trade Agreement FTA 9 October 2003 1 September 2006 [7] Singapore: India Singapore Comprehensive Economic Cooperation Agreement CECA 29 June 2005 1 August 2005 [7] South Korea
A special economic zone (SEZ) is a geographical region that has economic laws that are more liberal than a country's domestic economic laws. India has specific laws for its SEZs. India was one of the first countries in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set ...
The 1956 policy continued to constitute the basic economic policy for a long time. This fact has been confirmed in all the Five-Year Plans of India. According to this resolution the objective of the social and economic policy in India was the establishment of a socialistic pattern of society. It provided more powers to the governmental machinery.
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.
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