How does the government control trade restrictions?
- ((a))
The partnership Act of 1932
- ((b))
Industrial policy Act 1991
- ((c))
MRTP Act
- ((d))
FEMA Act
Show Answer
Industrial policy Act 1991
The correct answer is Industrial policy Act 1991.

Key Points
Industrial Policy Act 1991:
- The government controls trade restrictions through various measures and policies, including the Industrial Policy Act 1991.
- The Industrial Policy Act of 1991 was a significant policy reform introduced by the Indian government to liberalize and deregulate the industrial sector.
- It aimed to promote competition, attract foreign investment, and facilitate trade by removing unnecessary restrictions and barriers.
- Under the Industrial Policy Act 1991, the government implemented several measures to liberalize trade, such as reducing import tariffs, relaxing licensing requirements, promoting foreign direct investment, and encouraging technological advancements.
- These reforms helped in opening up the Indian economy, expanding trade opportunities, and integrating India into the global market.

Additional Information
- The Partnership Act of 1932: The Partnership Act regulates the formation and operation of partnership firms in India, but it does not directly control trade restrictions.
- MRTP Act: The MRTP (Monopolies and Restrictive Trade Practices) Act aimed to prevent monopolistic and restrictive trade practices but is not specifically focused on controlling trade restrictions.
- FEMA Act: The FEMA (Foreign Exchange Management Act) regulates foreign exchange transactions and transactions involving foreign investments, but it is not primarily concerned with controlling trade restrictions.



























































