National Regulation of International Trade

(NRIT)
[Honors I and II]

Module I: International Trade: Theoretical Framework

 Conceptualizing International Trade: Discussion on the theories of Mercantilism,
Absolute Advantage and Comparative Advantage
 Gains of International Trade
 Importance of a Multilateral Commitment
 Government’s intervention in International Trade

Module II: Freedom of Trade and Commerce: Constitutional Perspective and

Regulatory Framework
 Freedom of Trade and Commerce: Constitutional Perspective
 India and World Trade Organization (WTO)
 Organization Setup of Ministry of Commerce and Industry, Government of India
 Trade Policy Review Report by India
 Power of the Central Government to regulate trade under the Customs Act, 1962 and
the Foreign Trade (Development and Regulation) Act, 1992
 Regulation of Export Inspection Councils and other related agencies in India

Module III: Special Economic Zones

 Special Economic Zones: An Introduction
 Legislative framework of Special Economic Zones in India
 Operations within Special Economic Zones

Module IV: Regulation of Foreign Investment in India

 A general discussion on India’s Foreign Investment Policy
 Entry routes for Investment in India
 Salient features of Foreign Exchange and Management Act, 1999
 Multinational corporations and trade
 Joint Ventures
 Role of SEBI to regulate Foreign Investment in India.

Module V: Discussion on the organizational structure of Foreign Trade Policy [1st

April, 2015 – 31st March, 2020]
Legal Framework of Foreign Trade Policy (FTP)
 History of Foreign Trade Policy in short (FTP)
 Objective of FTP [1st April, 2015 – 31st March, 2020]
 Legal basis of FTP [1st April, 2015 – 31st March, 2020]
 Duration of FTP [1st April, 2015 – 31st March, 2020]
 Amendment to FTP [1st April, 2015 – 31st March, 2020]
 Special provisions to prevail in general under FTP [1st April, 2015 – 31st March,
2020]
Innovative steps for Trade facilitation and ease of doing business in India
 Role of DGFT as a facilitator of exports/imports
 Niryat Bandhu
 Online complaint and monitoring system
 Innovative and Forthcoming e-governance initiatives like Issue of e-IEC (Electronic
Import and Export Certificate), e-BRC (Electronic Bank Realisation Certificate),
Exporter-Importer Profiling facility etc.

Module VI: General provisions regarding imports and exports under FTP [1st
April, 2015 – 31st March, 2020]
 Theme of the current FTP i.e. Exports and Imports: ‘Free’, unless regulated
 Compliance of Imports/Exports with Domestic Laws
 Authority to specify Procedures
 Procedural requirements regarding Importer-Exporter Code (IEC)
 Principles of Restrictions

Module VII: Export promotion schemes and dispute settlement under FTP [1st
April, 2015 – 31st March, 2020]
 Export Promotion Capital Goods Scheme (EPCG)
 Export Oriented Units (EOUs)
 Electronics Hardware and Software Technology Parks (EHTPs and STPs)
 Bio-Technology Parks (BTPs)
 Mechanism of Quality complaints and trade disputes under new foreign trade policy

Reference:
 The Regulation of International Trade; Michael Trebilcock (ed.); published by
Routledge
 Special Economic Zones: Policy and Procedure; Arjya B Majumdar; published by
Wolters Kluwer (India) Pvt. Ltd
 V.S. Datey, Guide to Foreign Trade Policy 2015-2020, Taxmann Publications (P.)
Ltd.
 Foreign Collaborations & Investments in India; D. C. Singhania; published by
Universal Publication
 Taxmann’s FEMA Ready Reckoner, 2015
 Fundamental Freedom of Trade and Commerce and Nationalization; K. P. Singh;
published by Commonwealth Publishers
 ICSI, World Trade Organization International Trade Joint Ventures & Foreign
Collaborations, Taxmann Publications (P.) Ltd.
 Draft of Foreign Trade Policy [1st April, 2015 – 31st March, 2020]