Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
4. India’s Foreign Trade Policy (FTP) provides the basic framework of policy and strategy for promoting exports and trade. What improvements are needed in FTP (2015-20) in order to make India a major player in global trade and assume a role of leadership in international trade organizations commensurate with India’s growing importance? (250 words)
Difficulty level: Moderate
Reference: The Hindu , Insights on India
Why the question:
The question is part of the static syllabus of General studies paper – 3 and mentioned as part of Mission-2023 Secure timetable.
Key Demand of the question:
To write about successes and limitations of current FTP and suggest measures to overcome the limitations.
Introduction:
Begin by writing about the aims and objectives of Foreign Trade Policy.
Body:
First, in brief, write about the major features of Foreign Trade Policy (2015-20).
Next, write about the successes of the Foreign Trade Policy (2015-20) and cite facts to indicate the progress achieved because of it boosting exports.
Next, write about the shortcomings of the Foreign Trade Policy (2015-20) and reasons therefore.
Next, suggest measures that are needed in the upcoming foreign to overcome the limitations of the above.
Conclusion:
Conclude with a way forward.
