A Review of Trade Policy Of India Since 1991

Abstract

Most of the  third  world  countries have a colonial past  marked  by extensive  and  intensive exploitation  of  their  economies by  the colonial powers .One of the important instrument  of the  exploitation  has  been the instrument of  foreign trade. Hence after independence government has formulated and implemented various policies to boost up foreign trade .Therefore the Emphasis was on 6 inward oriented policies. As far as foreign trade is  concern large scale import substitution direct control on imports and investments and overvalued exchange rates .As for as export sector is concerned it was marked by extreme permission. But  things have  now radically  changed .many  developing  countries  adopted  programmes of import  liberalisation and export promotion and achieved remarkable success