Discuss the role of foreign trade policy in indian economy.

Question: Discuss the role of foreign trade policy in indian economy. 

Foreign trade policy plays a crucial role in the Indian economy as it helps to regulate and promote the country's international trade. It aims to increase exports, reduce imports, and improve the balance of trade by providing various incentives, subsidies, and tariff structures. The policy also helps to attract foreign investment, technology, and expertise, which can contribute to economic growth and development. However, foreign trade policy also faces challenges such as protectionism from other countries, fluctuations in exchange rates, and global economic uncertainties that can impact India's trade performance.

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