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of <h1>Foreign Trade Act 1992: Framework for Regulating India's Imports and Exports, Empowering DGFT, Enforcing Compliance with Trade Policies.</h1> The Foreign Trade (Development and Regulation) Act, 1992, aims to facilitate and regulate foreign trade in India. It provides a framework for the development and promotion of exports and imports, ensuring efficient trade practices. The Act empowers the government to make rules and regulations for trade policy, including licensing, restrictions, and controls on imports and exports. It establishes the Directorate General of Foreign Trade (DGFT) as the authority responsible for implementing these policies. The Act also includes provisions for penalties and enforcement to ensure compliance with trade regulations.
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