Amid the coronavirus outbreak, the government has decided to extend the foreign trade policy for one more year
The government on Tuesday again extended the existing foreign trade policy (FTP) for another six months till March 31 next year, according to a notification. Earlier, it had extended the FTP (2015-20) until September 30 this year due to the COVID-19 crisis.
FTP provides guidelines for enhancing exports to push economic growth and create jobs. Under FTP, the government provides incentives under different schemes such as Duty Free Import Authorisation (DFIA) and Export Promotion Capital Goods (EPCG).
“The existing FTP 2015-2020, which is valid up to September 30, 2021 is extended up to March 31, 2022,” the directorate general of foreign trade (DGFT) said in a notification. On March 31, 2020, the government had extended FTP (2015-20) for one year till March 31, 2021, amid the coronavirus outbreak and the lockdown.
Exports during April-September 21, 2021, stood at over USD 185 billion.
(PTI)