Question

All of the following statements except one are correct about the foreign trade policy. Identify the incorrect statement.

• A. Certain thrust areas like agriculture, handlooms, handicrafts, etc have been identified.
• B. Vishesh Krishi Upaj Yojana started in 2004.
• C. 'Served from India' scheme had been started in 2007.
• D. The entry of FDI in India has been restricted.

Answer 1

Answer: (D)

The entry of FDI in India has been restricted.

All export and import-related performance is governed by the Foreign Trade Policy (FTP), which is intended at enhancing the country's exports and use trade development as effective implementation of monetary growth and employment generation.

In other words, the main objective of the Exim Policy is to speed up the economy from a low level of economic activities to a high level of economic activities by making it a worldwide orient animated economy and to get maximum benefits from expanding global market opportunities.

Thus, the correct option is D.