Foreign Trade & Policy
📊 High-Yield Data & Statistical Fact Sheet
| Top Trading Partner | - China ($151.1 Billion total trade), reclaiming #1 from USA. |
| Top Export Destinations | - USA > UAE > Singapore > Netherlands > China. |
| Top Import Sources | - China > Russia (crude) > USA > UAE > Saudi Arabia. |
| FTP 2023 Export Target | - $2 Trillion total exports by 2030 ($1T Goods + $1T Services). Consignment limits on courier e-commerce exports removed. |
| India-EFTA TEPA Treaty (2025) | - Signed with Iceland, Liechtenstein, Norway, Switzerland. Binding commitment for $100 Billion FDI & 1M jobs over 15 years. |
1. EXCHANGE RATE REGIMES & RESERVE ADEQUACY
| Managed Float System | - India's active regime where market forces determine Rupee value, but RBI intervenes to curb extreme volatility. |
| Import Cover Benchmark | - India maintains ~15 months of import cover (exceeding traditional 3-month guideline). |
| Guidotti-Greenspan Rule | - Forex reserves must cover 100% of short-term external debt maturing within 1 year. |
2. FTP 2023 PILLARS & ₹ INTERNATIONALIZATION
| FTP 2023 Pillar 1 | - Shift from direct subsidies to duty remission schemes (RoDTEP). |
| FTP 2023 Pillar 2 | - Export promotion through collaboration (Districts as Export Hubs). |
| FTP 2023 Pillar 3 | - Ease of doing business via automated clearances and digital processing. |
| FTP 2023 Pillar 4 | - Emerging areas focus (E-Commerce & SCOMET dual-use items). |
| SRVA (Special Rupee Vostro Account) | - Facilitates rupee settlement of foreign trade via RBI mechanism, bypassing USD/EUR clearing systems for sanctioned trade partners. |