For the attainment of the above-mentioned objectives, the government of India has taken the following major steps:
(1) New Industrial Policy
Under Industrial Policy, keeping in view the priorities of the country and its economic development, the roles of the public and private sectors are clearly decided.
(i) Reduction in Restrictions of Export-Import:
Restrictions on the exports-imports have almost disappeared leaving only a few items.
(ii) Reduction in Export-Import Tax:
Export-import tax on some items has been completely abolished and on some other items it has been reduced to the minimum level.
(iii) Easy Procedure of Export-Import:
Import-export procedure has been simplified.