What is Exports?
Goods and services produced domestically and sold to residents of other countries. Exports represent an inflow of foreign currency and contribute positively to a country's Gross Domestic Product (GDP) and balance of payments.
Historical Background
India's trade policy has evolved significantly from an import-substitution strategy post-independence to a more outward-looking, export-oriented approach after the 1991 economic reforms. Various Foreign Trade Policies (FTPs) have been implemented by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry to promote and facilitate exports.