Government policies since 2000 The foreign trade policy for the year 2004-2009 came to effect from September 1, 2004. The union minister Mr. kamalnath announced the new foreign trade policy 204-2009, which was earlier known as EXIM policy (export and import policy). The policy removed the control earlier imposed, including those from domestic tariff area, have been exempted from service tax and all exporters with minimum turnover of Rs. 5 crore have been exempted from giving bank guarantee. This will help them in reducing their transaction cost.