Subject(s): Foreign trade regulation in India. -- India in Economic conditions. -- Indian economy since 1950-70 -- Anatomy of exchange control, import control policy- creteria for allocation and effects, foreign exchnage, economic effects of import controls,Export policy and performance- 1951-66, liberalization efforts prior to 1966- Tariffs, remittances scheme, partial industrial de-licensing -- Liberalization episode : Dimensions of liberalization episode, net v/s gross devaluation in June 1966, revival and expansion of export susbsidies during 1966-70, devaluation price level and economic activity, liberalization and export performance, political response to devaluation, liberalization episode -- Growth effects : Issues relating to growth effects of India's foreign trade regime, static allocational and efficiency impact on growth, export policy and economic performance, investment, innovation and growth, Eckaus- Parikh Model, savings and foreign trade regime - domestic savings and stringency of QR and external resources, retained earnings by specific industries in corporate sector