Government decides to extend Foreign Trade Policy by 6 months

The government on Monday said it has decided to extend the existing Foreign Trade Policy (2015-20) by another six months till March 2023.

The current Foreign Trade Policy (FTP) was to end on September 30.

Additional Secretary in the Department of Commerce, Amit Yadav, said there were demands from different quarters, including industry associations and export promotion councils, to extend the policy and not introduce a new policy at this time.

They have stated that currently there are challenges like global uncertainties and currency fluctuations.

There was also a view to align the rollout of the new policy with the new financial year.

The commerce and industry ministry had earlier announced that it will release the new FTP by the end of this month.