Govt to extend foreign trade policy till March 2022

Government to extend existing foreign trade policy till March 2022: Piyush Goyal

The Foreign Trade Policy provides guidelines for enhancing exports to push economic growth and create jobs

Union Minister Piyush Goyal. Credit: PTI File Photo

Commerce and Industry Minister Piyush Goyal on Monday said the existing foreign trade policy (FTP) will be extended till March 31 next year. The government had earlier extended the FTP 2015-20 until September 30 this year due to the Covid-19 crisis.

The Foreign Trade Policy provides guidelines for enhancing exports to push economic growth and create jobs. "We are notifying it today evening or tomorrow...We have decided to extend the policy until March 31 (2022)...and in the (new) financial year, we can start with the new policy," he told reporters here.

He expressed hope that by that time, Covid-19 issues would be resolved.

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.

Exports during April-September 21, 2021, stood at over $185 billion, he added.

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