We are really happy to see second edition in your hands and we are deeply indebted to readers.
Globalisation, liberalisation, and Information Technology have transformed the world into a global village. No country can remain self-sufficient. Interdependence is indispensable. What we have in excess has to be exported and what is in shortage is to be imported.
In the fast changing international trading scenario, India with its large skilled work force, growing domestic market, availability of raw material and the emergence of a mature supply base is set to gain enormously from this trend. India is all set to become a major player in the world trade and a global hub. Recent visit of the American President has given further impetus to it.
There is a sea change in the mindset of policy makers and traders and manufacturers. Quota-raj and permit-raj have been replaced by business friendly laws with ever expanding list of concessions, sops, incentives etc.
Foreign Trade is not confined to customs alone. Many other agencies are involved. All aspects relating to exports like clearances from DGFT, RBI, FEDAI Rules, FEMA, Customs, Excise, Service Tax, Income Tax, VAT, etc are explained precisely and lucidly. General issues are also addressed appropriately.
A novel attempt has been made to provide one-stop solution for all problems.
It can be proudly said that it is also the first book of this kind. The presentation of the subject in this book is unique and user-friendly. Readers are hoped to feel at home in handling many day-to-day practical problems. Students get into ready-to-answer mode for many questions being asked in the examinations. All practically useful aspects of the Foreign Trade Policy are dealt in a user-friendly manner. The topics and the contents are so arranged and explained that the entire subject will be on the finger tips of the reader. It guides the exporters in their day-to-day requirements and adorns the desk-tops of the readers in solving readily the queries that crop-up.
We are grateful to Mr. Abhay Dongre for editing the book.
We are also deeply grateful to Mr. R.A. Garg of Commercial Law Publishers (I) Pvt. Ltd. who has shown spirited enthusiasm and enterprise in bringing out this edition. We are beholden to all the readers for their comments and valuable suggestions.