An important feature of Export License under which certain goods can be imported only by designated agencies. For an example, an item like gold, in bulk, can be imported only by specified banks like SBI and some foreign banks or designated agencies.

Related MCQs

• Consider the following statements about the Foreign Trade Policy 2015-20 unveiled on 1st Apr’15. A. This policy focuses on boosting exports and creating jobs while supporting the Centre’s Make In India and Digital India' programs. B. The new policy is to create architecture for the Indian economy so that it can gain global competitiveness and promote the diversification of Indian export. C. The policy is to move towards paperless working in 24x7 environments. D. The policy comes at a time when export growth contracted 15 percent in February 2014-15, reporting a negative growth for the third consecutive month.
• The export promotion scheme that enables the post export replenishment of duty on inputs used in the export product is.
• The export promotion scheme that enables the post export replenishment of duty on inputs used in the export product is.
• The export promotion scheme that enables the post export replenishment of duty on inputs used in the export product is
• Name the two schemes introduced under the new foreign trade policy? Merchandise Export from India Scheme & Services Export from India Scheme
• Bill of lading is a document supplied to the -------------by the shipping company that is transporting the goods to their foreign destination, listing them item by item
• License holder shall furnish following details of material being imported
• Bona fide technical and trade samples of items, even those in the restricted in ITC(HS)Classifications of Export and Import items is allowed without a license for a value not more than Rs. 1 lakh(CIF)
• The Negotiable Instruments Act defines a ---------as “an instrument in writing containing an unconditional order, signed by the maker directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of instrument.”
• Any person applying for any License of benefit or concession under the foreign Trade Policy will be required to furnish: