The government on Monday said it has decided to extend the existing foreign trade policy (2015-20) for another six months till March 2023. The current Foreign Trade Policy (FTP) was to end on 30 September.
Amit Yadav, additional secretary in the commerce department, said there had been demands from various quarters, including industry associations and export promotion councils, to expand the policy and not introduce a new policy at this time.
He said that at present there are challenges like global uncertainty and currency volatility. Business people believe that it will be right to implement the rollout of the new policy with the new financial year. Therefore, it was decided to extend the old foreign trade policy by an additional six months.
The Ministry of Commerce and Industry had earlier announced that it would announce a new Foreign Trade Policy (FTP) by the end of this month.
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