According to WTO, MFN status means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners — whether rich or poor, weak or strong. Today, over 150 members of the World Trade Organization offer MFN ..
International Trade: GK, Current Affairs, Questions, Trivia and News
1. The new Foreign Trade Policy of the Union Government was unveiled by the commerce Minister Shri. Kamal Nath on August 31, 2004. With foreign trade largely freed and import duties falling progressively, the policy have necessarily restricted itself to a facilitating role rather. This policy stated, “Trade is not an end in itself , ..
1. India entered into planned development era in 1950’s and at that time Import Substitution was a major element of India’s trade and industrial policy.2. In 1950 India’s share in the total world trade was 1.78% which reduced to 0.6% in 1995. During 2003-04 India’s share in the global trade was 0.8%, in 2005 it ..
The objectives and salient features of EXIM policy 1997-20001. To accelerate the country’ s transition to a globally oriented vibrant economy with a view to derive maximum benefits from expanding global market opportunities2. To stimulate sustained economic growth by providing access to essential raw materials intermediates, components, consumables and capital goods required for augmenting production3. ..