The Directorate General of Foreign Trade (DGFT) is the nodal agency under the Ministry of Commerce and Industry responsible for formulating and implementing the Export-Import Policy in India.

The primary objective of the Export-Import Policy is to promote exports and reduce imports in order to achieve a favorable balance of trade.

The main instruments used to implement the Export-Import Policy include tariffs, subsidies, quotas, and export promotion schemes.

Tariffs are used to protect domestic industries from foreign competition, generate revenue for the government, and regulate the flow of imports and exports.

The different types of subsidies provided under the Export-Import Policy include export subsidies, import subsidies, capital subsidies, and interest subsidies.

Export promotion schemes are designed to provide financial assistance to exporters, provide marketing support to exporters, and facilitate the participation of exporters in international trade fairs and exhibitions.

Special Economic Zones (SEZs) play a significant role in the Export-Import Policy by providing a conducive environment for export-oriented industries, offering tax and other incentives to exporters, and facilitating the movement of goods and services across borders.

The Foreign Trade Policy (FTP) provides a framework for the implementation of the Export-Import Policy, outlines the specific measures and procedures for import and export, and identifies the priority sectors for export promotion.

Free Trade Agreements (FTAs) play a significant role in the Export-Import Policy by promoting trade between India and other countries, reducing tariffs and other trade barriers, and facilitating the movement of goods and services across borders.

The Export-Import Policy has a positive impact on the Indian economy by promoting economic growth, generating employment opportunities, and improving the balance of payments.

The implementation of the Export-Import Policy faces challenges such as global economic slowdown, protectionist measures by other countries, and infrastructure bottlenecks.

The future prospects of the Export-Import Policy include increased focus on export promotion, simplification of import procedures, and strengthening of trade relations with other countries.

Foreign Direct Investment (FDI) is not a component of the Export-Import Policy, which primarily focuses on regulating the import and export of goods and services.

The Reserve Bank of India (RBI) plays a crucial role in the Export-Import Policy by regulating the flow of foreign exchange, providing financial assistance to exporters, and facilitating the settlement of international trade transactions.

The Directorate General of Anti-Dumping and Allied Duties (DGAD) plays a significant role in the Export-Import Policy by investigating cases of dumping and unfair trade practices, imposing anti-dumping and countervailing duties, and protecting domestic industries from unfair competition.