Govt extends current foreign trade policy till September

The government on Wednesday extended the existing foreign trade policy (FTP) for six more months up to September 30 this year, according to a notification. FTP provide guidelines for enhancing exports to push economic growth and create jobs.

On March 31, 2020, the government had extended the Foreign Trade Policy 2015-20 for one year till March 31, 2021, amid the coronavirus outbreak and the lockdown.

“The existing FTP 2015-20, which is valid up to March 31, 2021 is extended up to September 30, 2021,” the Directorate General of Foreign Trade said in a notification.

Exports during April-February this fiscal dipped by 12.23 per cent to USD 256 billion. Imports during the period too declined by 23.11 per cent to USD 340.8 billion, leaving a trade deficit of USD 84.62 billion.

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