India got freedom and with its freedom it received a totally devastated economy which needed some concrete measures to bring changes in the country. The various 5 year plans incorporated by the Government of Indi a till date has allowed in developing the Indian economy as a whole. With successful 5-year plans, the infrastructure of the country became much better and it could produce more capital goods. This in turn affected the foreign trade of India. There were other factors also which lead to rapid growth of the foreign trade India. So slowly the government came up with proper foreign trade policy India. The policy is also known by the name Exim Policy.

The various factors which affected the rapid growth of India's foreign trade are-

New avenues and destinations opened up
The international trade policies

Export promotion of the organizations
Publicity campaigns

The foreign trade had seen remarkable growth because of the large scale industrialization under the 5-year plans in India. Varieties of manufactured and semi-manufactured items were exported to the new countries thus helping the country to gain lots of foreign exchange.

The foreign trade Policy India

Every five years, the Ministry of Commerce and Industry, Government of India announces the Foreign Trade Policy. The policy gets updated on 31st March every year and all the changes that are incorporated there gets effective from 1st April the same year. The foreign trade policy India deals in -
Any issue pertaining to import/export
Promotional schemes
Duty exemption schemes
Export promotion schemes
Programs for special economic zones

The new EXIM policy has been announced on 27th March, 2009 and it is for the period of 2009-2014. The last foreign policy has taken special initiatives so that India could continuously increase the percentage share of the global trade and expand employment opportunities. The initiatives focus on -

Market diversification
Technological up gradation
Agriculture handlooms
Handicraft
Gems and jewelry
Leather
Marine
Electronics and IT hardware manufacturing industries
Green products
Exports of products from north-east
Sports goods

Toys sectors

The government is going to take special effort in these fields to promote exports in these sectors by taking up special strategies.

Certain initiatives have been taken under the foreign trade policy India-

Within the ambit of Focus Market Scheme, 26 new countries are included
The incentives offered under focus Market Scheme has been increased from 2.5%-3% Significant increase is there under the €Market Linked Product Scheme€ where more markets and products are included. This will be helpful in exports in different countries of Africa and Latin America. Some technological up gradation have been incorporated too.
Zero duty for certain products, basic chemicals, pharmaceuticals, apparels, textiles, plastic, leather and leather products.

The existing 3% EPCG scheme becomes easy to use for the exporters
A minimum of 15% value addition on imported goods
Under Focus products and market linked product schemes, a number of products are included Steps to encourage project exports have been planned.