Export Trade Control : Exports may be made freely except to the extent they are regulated by the provisions of Import-Export policy, 1997-2002 or any other law for the time being in force. Government continuously make effort to promote exports by providing various assistance and facilities. At the same time, control is exercised on exports of such commodities and services which are vital to the economy. The primary object of the

Government is to promote exports to the maximum extent but in such a manner that the economy of the country is not affected by unregulated exports of items essentially needed within the country. Hence, export control is exercised to a very limited extent in respect of minimum number of items.

India's foreign trade (exports and imports) is regulated under the provisions of the Foreign Trade (Development and Regulation Act, 1992 and Foreign Trade (Regulation) Rules, 1993.

This act provides for the development and regulation of foreign trade by facilitating imports into, and augmenting exports from India. Besides, exports are also regulated by the following major acts:

1. Ancient Monument Preservation Act, 1904

2. Indian Coffee Act, 1942

3. Tea Act, 1953

4. Foreign Exchange Regulation Act, 1973

5. Coir Industry Act, 1942

6. Dangerous Drugs (Import, Export and Transhipment Rules), 1957

7. Arms Act, 1959 and Arms Rules, 1962

8. Antiquities and Art Treasures Act, 1972

9. Dangerous Drugs Act, 1953

10. Indian Post Office Act, 1898

11. Drug and Magic Remedies (Objectionable Advertisements) Act1954

12. Motor vehicle International Circular Rules

13. Wild Life Protection Act

Gold can be exported with the sanction of Reserve Bank of India. Exports of a. few products are canalised through specified agencies like STC, MMTC, etc. Despite various laws 'and regulations relating to exports, the restrictions or regulation on exports has been minimum. The new Export-Import Policy, 1997-2002 has further liberalised the list of items under export control. Negative list contains only a few items which are banned or prohibited. Presently there are 10 items in the Negative list. There are 32 items subject to licensing and 6 items are canalised for export. The items in the Negative lists may vary from time to time. Besides, exports of some items are permitted with minimum regulation and without licence.