The main objectives of the
modern commercial policy are:
First, to increase the
quantity of trade with foreign nations.
Second, to preserve, the essential raw material for encouraging the
development of domestic industries.
Third, to stimulate the export of particular products with a view to
increasing their scale of production at home.
Fourth, to prevent the imports of particular goods for giving protection to
infant industries or developing key industry or saving foreign exchange, etc.,
Fifth, to restrict imports for securing diversification of industries.
Sixth, to encourage the imports of capital goods for speeding up the economic
development of the country.
Seventh, to restrict the imports of goods with a view to correct the
unfavorable balance of payments.
Eighth, to assist or prevent the export or import of goods and services for
achieving the desired rate of exchange.
Ninth, to enter into trade agreements with foreign nations for stabilizing
the foreign trade.