Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Proponents argue that protectionist policies shield the producers, businesses, and workers of the import-competing sector in the country from foreign competitors and raise government revenue. Opponents argue that protectionist policies reduce trade, and adversely affect consumers in general as well as the producers and workers in export sectors, both in the country implementing protectionist policies and in the countries against which the protections are implemented.
Dumping, in economics, is a form of predatory pricing, especially in the context of international trade. It occurs when manufacturers export a product to another country at a price below the normal price with an injuring effect. The objective of dumping is to increase market share in a foreign market by driving out competition and thereby create a monopoly situation where the exporter will be able to unilaterally dictate price and quality of the product. Trade treaties might include mechanisms to alleviate problems related to dumping, such as countervailing duty penalties and anti-dumping statutes.
An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an exporter; the foreign buyers is an importer. Services that figure in international trade include financial, accounting and other professional services, tourism, education as well as intellectual property rights.
EEPC India is the trade and investment promotion organization for the engineering sector that sponsored by the Ministry of Commerce & Industry. Set up in 1955, EEPC India now has a membership base of over 12,000 out of whom 60% are SMEs.
The South Asian Free Trade Area (SAFTA) is a 2004 agreement that created a free-trade area of 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka with the vision of increasing economic cooperation and integration.
India Trade Promotion Organisation (ITPO), headquartered at Pragati Maidan, is the nodal agency of the Government of India under aegis of the Ministry of Commerce and Industry (India) for promoting country's external trade. ITPO is a Mini-Ratna Category-1 Central Public Sector Enterprise (CPSE) with 100 percent shareholding of Government of India.
A Certificate of Origin or Declaration of Origin is a document widely used in international trade transactions which attests that the product listed therein has met certain criteria to be considered as originating in a particular country. A certificate of origin / declaration of origin is generally prepared and completed by the exporter or the manufacturer, and may be subject to official certification by an authorized third party. It is often submitted to a customs authority of the importing country to justify the product's eligibility for entry and/or its entitlement to preferential treatment. Guidelines for issuance of Certificates of Origin by chambers of commerce globally are issued by the International Chamber of Commerce.
Rules of origin are the rules to attribute a country of origin to a product in order to determine its "economic nationality". The need to establish rules of origin stems from the fact that the implementation of trade policy measures, such as tariffs, quotas, trade remedies, in various cases, depends on the country of origin of the product at hand.
ECGC Limited is a government owned export credit agency of India. It is under the ownership of the Ministry of Commerce and Industry, Government of India, and is headquartered in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and banks. Its topmost official is designated as Chairman and Managing Director, who is a central government civil servant under Indian Trade Service (ITS) cadre.
The Ministry of Commerce ; abbreviated as MoCom), is a Cabinet-level ministry of the Government of Pakistan concerned with economic growth and commerce development and promotion in Pakistan. The administrative head of the ministry is the Commerce Secretary of Pakistan, presently Muhammad Sualeh Ahmad Faruqi. The political head, Minister of Commerce, is required to be the member of Parliament.
Limtex is an Indian multinational company, headquartered in Kolkata, West Bengal, India and a subsidiary of Limtex Group. It exports $40 million in Indian tea annually. Limtex is the leading producer, manufacturer and exporter of Indian Tea both in the domestic and international market. It also has an IT division - Limtex Infotech, which was formed in 2005.
The ASEAN–India Free Trade Area (AIFTA) is a free trade area among the ten member states of the Association of Southeast Asian Nations (ASEAN) and the Republic of India. The initial framework agreement was signed on 8 October 2003 in Bali, Indonesia. and the final agreement was on 13 August 2009. The free trade area came into effect on 1 January 2010. India hosted the latest ASEAN-India Commemorative Summit in New Delhi on 26 January 2018. In the financial year 2017–18, Indo-ASEAN bilateral trade grew by almost 14% to reach US$81.3 billion. India's imports from ASEAN were valued at US$47.13 billion while its exports to ASEAN stood at US$34.2 billion.
A trading nation is a country where international trade makes up a large percentage of its economy.
The Indian Trade Service (ITdS) is a civil service under Group A of the Central Civil Services of the executive branch of the Government of India. It was created as a specialized cadre to handle India's international trade and commerce on the basis of the recommendations of the Mathur Committee in 1965. At present, the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, is the cadre controlling authority of the ITS. DGFT has 38 regional offices across India, and plays a significant role in promoting India's international trade with its policy formulation and implementation.
Dr. Amit Mitra is an Indian economist and politician and the current Special Advisor to Chief Minister of West Bengal on Finance. Previously he was the Finance, Commerce & Industries Minister of the government of Indian state of West Bengal. He was the incumbent MLA in the West Bengal state assembly from the Khardaha state assembly constituency. Cited as a giant killer in the 2011 West Bengal state assembly election defeating Asim Dasgupta, the former West Bengal Finance Minister. Mitra previously served as the Secretary general of the Federation of Indian Chambers of Commerce and Industry (FICCI).
Sitaldas Kewalram Motwani BBS, JP was a Hong Kong industrialist, publisher and social worker.
Foreign trade in India includes all imports and exports to and from India. At the level of the Central Government, trade is administered by the Ministry of Commerce and Industry. Foreign trade accounted for 48.8% of India's GDP in 2018.
The World Integrated Trade Solution (WITS) is a trade software provided by the World Bank for users to query several international trade databases.
The Agricultural and Processed Food Products Export Development Authority (APEDA) is an Indian Apex-Export Trade Promotion Active government body.
