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Why are tariffs imposed?
To keep a check on the growth of imports, tariffs are imposed.
What do you understand by free flow of capital?
A more liberal and productive foreign investment policy has been initiated to attract more foreign direct investment. That is why there is no restriction on flow of capital from one country to another.
What is strategic sale?
The sale of goods related to war material is called strategic sale. Such type of commodities are under the government control in India.
What is the meaning quantitative restrictions?
The restrictions related to the quantity of goods purchased from other countries as in the case of readymade garments where USA is using these restrictions while purchasing from India and China.