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Foreign Trade plays a very important role in the economic development and sustenance of most of the nations. The fact that Foreign Trade grows much faster than the world output, implies that for many a dynamic enterprise, the potential market is not confined to the national frontiers. For the good number of corporates, the overseas market is not a secondary market, but the primary market. The large and expanding world market often offers greater growth and profit opportunities than the domestic market. Globalisation and advanced information technology alongwith adapted mindset and attitude of people brought paradigm shifts in foreign trade by erasing the boundaries among the countries, culture and industries. For many small and medium sized enterprises too, the overseas market is very important. There are numerous changes in the Central Government Foreign Trade Policy, derivative market, external commercial borrowings, foreign direct investment and FPI. The capital account convertibility which was planned could not take place due to various reasons as discussed in this book. After demonestisation of higher denomination currency notes of Rs. 500 and Rs. 1,000, value of Rs. 15.4 lakh crores was scrapped by the announcement of the Prime Minister on 08-11-2016, the export market became low and GDP growth got affected. There had been 165 mergers and acquisitions in 2016 which were higher by 20% compared to year 2015 and 54% higher compared to 2015 to 2014. Position of fiscal deficit in 2016-17 (April to Dec.) was totalling Rs. 5.01 lakh crores which was 93.9% of total projected deficit of 2016-17. All these things have been explained in this revised edition. Contents : 1. Foreign Trade 2. Instruments of Foreign Trade 3. Import/Export Control and Foreign Trade Policy 2015-2020 4. Exchange Control in India 5. Import Finance (Documentary Credit) 6. Cross-Border Financing Export Finance : Pre-shipment 7. Cross-Border Banking Export Finance : Post-shipment 8. Export Promotion Incentives 9. Import/Export Guarantees 10. Foreign Remittances 11. Foreign Travel and Release of Exchange 12. Account of Foreign National/Firms/Companies and Rupee Accounts of Non-Residents Banks 13. Ordinary Non-Resident Rupee (NRO) / Accounts 14. Non – Resident ( External), EEFC and FCNR (Banks) Accounts 15. Blocked Accounts / Resident Foreign Currency Accounts 16. Investments in India by Non-Residents 17. Returns and Statements 18. Various Risk in Banking 19. Foreign Exchange 20. Commercial Rates of Exchange 21. Calculation of Exchange Rates 22. Derivatives Market (Forwards, Futures, Swaps and Options) 23. Futures, Option Forwards and Swaps 24. Extension / Cancellation of Forward Contracts 25. Exchange Position 26. International Financial Institutions 27. Diamond Exports and Exim Policy 2015-2020 28. Exchange Risk Management 29. Cost of Capital for Foreign Investments 30. Foreign Direct Investments, ECB and Other Sources of Capital Flow 31. Foreign Exchange Derivatives Market 32. Capital Account Convertibility's Possibility Appendices I Uniform Customs and Practice for Documentary Credits - 600 II Documentary Credits for Electronic Presentation e-UCPDC-600 III List of Full-Fledged Authorised Dealers IV List of Export Promotion Councils/Boards