The Foreign Trade (Development And Regulation) Act, 1992: Objectives, Mechanism, Case Law And Contemporary Relevance
- IJLLR Journal
- Aug 8
- 1 min read
Binoy John, BSOLS Aluva
Linto Thomas, BSOLS Aluva
ABSTRACT
The Foreign Trade (Development and Regulation) Act, 1992 (“the FTDR Act” or “the Act”) is the constitutive statute of India’s external trade governance, enacted in the wake of the 1991 balance-of-payments crisis to replace the control-oriented Imports and Exports (Control) Act, 1947 with a facilitative, presumption-of-freedom regime. This article provides a comprehensive overview of the Act its historical origins, statutory objectives, legislative architecture and operative mechanism before undertaking a section-wise analysis supported by judicial decisions interpreting its principal provisions. It further examines the Act’s continuing relevance in light of the Foreign Trade Policy, 2023 and the pattern of regulatory activity through 2026, and closes with a critical appraisal of the strengths and limitations of a framework built on wide executive delegation. A dedicated table of case law is provided, together with a bibliography of the primary and secondary sources consulted.
