TRADE means selling or buying something from others. A mechanism that allows trade is called a market. The original form of trade was barter (the direct exchange of goods and services). Modern traders instead generally negotiate through a medium of exchange such as money. Trade between two traders is called bilateral trade while trade between more than two traders is called multilateral trade.
For India to become a major player in world of trade an all comprehensive view needs to be taken for the overall development of the foreign country's trade. While increase in exports is of vital importance that we have also to facilitate those importswhich are required to stimulate our economy. Coherence and consistency among trade andother economic policies is important for maximizing the contribution of such policies to development. While incorporating the existing practice of enunciating an annual EximPolicy, it is necessary to go much beyond and take an integrated approach to thedevelopmental requirements of India's foreign trade. This is the context of the new ForeignTrade Policy..
Trade is not an end in itself, but a means to economic growth and national development.The primary purpose is not the mere earning of foreign exchange but thestimulation of greater economic activity. The Foreign Trade Policy is rooted in this belief andbuilt around two major objectives. These are:
The new Policy envisages merchant exporters and manufacturer exporters businessand industry as partners of Government in the achievement of its stated objectives and goals.Prolonged and unnecessary litigation vitiates the premise of partnership. In order to obviatethe need for litigation and nurture a constructive and conducive atmosphere,, a suitableGrievance Redressal Mechanism will be established which, it is hoped, would substantially
The dynamics of a liberalized trading system sometimes results in injury caused todomestic industry on account of dumping. When this happens, effective measures to redresssuch injury will be taken..
An Act to provide for the development andregulation of foreign trade by facilitating imports into, and augmenting (increase) exports from India and for mattersconnected therewith or incidental thereto.
Source: Essay UK - http://doghouse.net/free-essays/economics/what-is-trade.php
If this essay isn't quite what you're looking for, why not order your own custom Economics essay, dissertation or piece of coursework that answers your exact question? There are UK writers just like me on hand, waiting to help you. Each of us is qualified to a high level in our area of expertise, and we can write you a fully researched, fully referenced complete original answer to your essay question. Just complete our simple order form and you could have your customised Economics work in your email box, in as little as 3 hours.
This Economics essay was submitted to us by a student in order to help you with your studies.
This page has approximately words.
If you use part of this page in your own work, you need to provide a citation, as follows:
Essay UK, What is trade?. Available from: <http://doghouse.net/free-essays/economics/what-is-trade.php> [21-02-19].
If you are the original author of this content and no longer wish to have it published on our website then please click on the link below to request removal: