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A quota is a restriction or an upper limit fixed for use or availability or consumption of goods. The restriction can be for a variety of purposes including import and export of goods to meet domestic demand or encourage domestic production of goods.
Each country has its own trade regulatory authorities. These include foreign trade regulations. In India, the Foreign Trade (Development and Regulation) Act, 1992 and Foreign Trade Policy regulates the foreign trade by way of import and export out of India. The current Foreign Trade Policy is 2015-2020 (1 April 2016 to 31 March 2020).