Expectations are rising for an easing of trade protectionism in the run-up to the inauguration of the Biden Administration, but there is always the possibility of “own-country-first” policies reemerging and intensifying trade tensions. 2 / 9  Turning to the domestic front, our economy’s structural weakness still poses a concern.
The Exchange Control Act has, thus, undergone several reviews and repeals over the years to re-align it with dynamic macroeconomic developments and hence make it more relevant. Ladies and Gentlemen, let me mention that the Exchange Control Manual being launched today, has been prepared to act as a guide to authorized dealer banks in dealing with exchange control issues.