Question

c) Indian foreign trade policy does not facilitate the import of technology.

09 Apr 2024
Answer :
Word Count : 770

India’s Foreign Trade Policy (FTP) aims to regulate and promote international trade in a manner that supports economic growth, enhances export competitiveness, and ensures sustainable development. However, a common criticism is that it does not adequately facilitate the import of technology, which is vital for industrial development, innovation, and global competitiveness in a rapidly evolving international business environment. To analyze this, it is essential to explore the key aspects of the policy, existing challenges, and how it impacts the import of technology.

### 1. Policy Objectives and Technology Import
India’s FTP focuses on increasing exports, reducing the trade deficit, and improving the ease of doing business in international trade. However, while the policy addresses export promotion through schemes like the Export Promotion Capital Goods (EPCG) scheme and duty remission mechanisms, its framework for importing advanced technologies is relatively limited.

- EPCG Scheme: This scheme allows the import of capital goods at reduced customs _______ ______ ____ _________ ______ __________ _____ ________ _____.
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