Explain salient features of FTDR Act 1992.

Question

08 Jul 2022

Answer :

Word Count : 707

SALIENT FEATURES OF FOREIGN TRADE DEVELOPMENT AND REGULATION (FTDR) ACT 1992 are -

(i) This Act replaced the earlier Act which used to be called as Import and Export (Control) Act 1947.

(ii) The basic objective of FTDR 1992 is to provide a frame work for development and regulation of foreign trade by facilitating imports into the country, as well as, taking measures to increase exports from India and any other related matters.

(iii) The Act empowers the Central Government to make any provision in order to fulfill these objectives.

(iv) In terms of these powers contained in FTDR Act 1992, the government makes provisions to fulfill the objectives by way of formulation of the Export and ________ _______ _____ _____ _______ _________ __________.
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