India’s import related decisions are taken by the various import export governing bodies. These governing bodies prepare list of the products which are allowed or prohibited for import or export in India. These governing bodies also decide the maximum quantity in which goods can be imported and tax on it. Indian EXIM Policy contains various policy related decisions taken by the government with respect to imports and exports of the country. India's Export Import Policy also known as Foreign Trade Policy.
The Ministry of Commerce and Industry is formulating and implementing the foreign trade policy in matter related to Import and Export. The department is assigned for the responsibilities relating to multilateral and bilateral commercial relations, state trading, export promotion measures, and development and regulation of certain import oriented industries and commodities.
The Ministry of Commerce and Industry controls two departments:
1. Department of Commerce
2. Department of Industrial Policy & Promotion