Problems and Solutions of Export Promotion Measures in India

Abstract

In the global economic environment of today, developing countries, including India, are facing throat-cut competition in international market. If India is to become a major player in the world trade, she needs to take a comprehensive view for the overall development of its foreign trade. Foreign trade policy and other economic policies must be coherent and consistent so that they may make maximum contribution to achieve the object. Importance of foreign trade policy and economic policies is duly recognized but without appropriate institutional support, these policies also may not bring the desired results. The process of economic reforms (Liberalization, Privatization and Globalization, collectively known as LPG model) and the increasing role of WTO have transformed almost all the sectors of Indian economy, including external sector. The rules of foreign trade game are being redefined, international business practices are changing and competition is becoming more intense. In this scenario, role of export promotion measures gets manifold. Thus, the support of export promotion measures and institutions becomes very important. Present study covers a study of export Promotion Measures in India. Objectives of these organizations and institutions have been studied and their working has been analyzed in the light of these objectives How far these objectives been achieved and how far not, has been the main theme of study. Problems being faced by these organizations have also been studied. Sincere efforts have been made to give some practical suggestions to improve the working of these organizations.