International Journal of Applied Marketing and Management

Bharat Bhushan Sharma ¹

Affiliations
1 Sikandrabad, Bulandshahr, Uttar Pradesh, IN

Abstract

Foreign trade is the sector which connects the domestic economy with the rest of the world and provides the goods and services which nation and the economies across the world fail to produce with their domestic resources. For engaging in foreign trade, countries need to have their own foreign trade policies, which lay down the provisions that govern their trade in the international markets. India also went for framing many trade policies and the foreign trade policy of 2015-2020 is the latest addition to the group of trade policies of India. This paper aims to throw light on the basic provision, the feasibility of the new trade policy and its errors and omissions.

Keywords

Foreign Trade Policy, Provisions, Feasibility, Errors and Omissions.

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Bharat Bhushan Sharma ¹, Virendra Raghuvanshi ², Padmini Verma ³

Affiliations
1 Agrasen PG College, Sikandrabad, Bulandshahr, Uttar Pradesh
2 Professor, IIMT University, Meerut, Uttar Pradesh, IN
3 Assistant Professor, Mewar Group of Institutions, Ghaziabad, Uttar Pradesh, IN

Abstract

Indian economy is one of the fastest-growing economies of the whole world. To further boost the tempo of its growth, it is leaving no stone unturned to increase the productivity of its resources and their proper utilisation. Establishment of special economic zones (SEZs) is one such endeavour of Indian government which promises to contribute towards its economic development through export promotion and manufacture of products for exports. SEZs have contributed to great measures towards the development of Indian economy. They have created employment for the increasing labour force of India and, at the same time, led to fast-track increase in the export earnings of India. SEZs hold the promise of development of the Indian economy both in the long and the short run. Present paper deals with the introduction of SEZs and their present status and future scope in the development of Indian economy.

Keywords

Special Economic Zones, Indian Economy, Exports, Trade.

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