The question (15 marks)
Describe the structural changes in India's foreign trade since 1991 and the statutory framework governing foreign trade today. What protection does a trader have when the policy changes? (15 marks)
Standing MU question on Module 4 heads 1 and 4. Built from chapter 21 and worked example 15.
Plan your answer on paper before you look at the authorities — issue first, then the rule, then apply it to these facts.
It tests Unit 4 · External Sector of Economics.
Authorities you will need
- Foreign Trade (Development and Regulation) Act
- Foreign Trade Policy 2023, notified under s. 5 and in force from 1 April 2023
- P. T. R. Exports (Madras) Pvt. Ltd. v. Union of India
How an answer is marked
A full-marks answer names the issue in one line, states the rule with its section, cites the authority, applies it to these facts and concludes — in that order. The app's model answer for this question is written in exactly that shape, with a checklist to mark your own attempt against.