New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    Canalised list items in foreign trade of India refers

    to
    A List of items to be subsidised Correct Answer Incorrect Answer
    B The items to be imported by the private agencies. Correct Answer Incorrect Answer
    C Items to be imported only by the State owned undertaking Correct Answer Incorrect Answer
    D List of items to be granted duty concession Correct Answer Incorrect Answer

    Solution

    The export import policy announced on March 31, 1992 said that all goods, except those coming under the negative list, could be freely imported and exported. The negative list consisted of goods, the import or export of which was prohibited; restricted through licensing or otherwise; or canalized. Canalized items can be imported by Canalized Agency only and not by an individual importer. An individual importer requires an Import license issued under the Export and Import Policy for importing canalized items.

    Practice Next