The Foreign Trade (Development and Regulation) Act, 1992

The Foreign Trade (Development and Regulation) Act, 1992 is an Indian law that seeks to regulate foreign trade and promote India's international trade. It provides for the development and regulation of foreign trade by regulating imports and exports, prohibiting unfair trade practices, and providing for the imposition of penalties for violations of the Act. The Act empowers the government to make provisions for the development and regulation of foreign trade, establish export promotion councils, and impose restrictions on imports and exports in the interest of national security or to protect domestic industries. The Act also provides for the establishment of a Directorate General of Foreign Trade to oversee the implementation of the Act.