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Announcement of new foreign trade policy probably on September 29

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Announcement of new foreign trade policy probably on September 29

New Delhi, Sep 20 (PTI) The new five-year foreign trade policy is likely to be released by the commerce ministry on September 29. Giving this information on Tuesday, an official said that the objective of this policy is to increase exports from the country.

The current Foreign Trade Policy (2015-20) is in force till 30 September.

The government had on March 31, 2020 extended this policy for a year till March 31, 2021, due to the COVID-19 pandemic. After this it was extended till September this year.

In the policy, the government announces support measures for exporters of goods and services.

“The new foreign trade policy will be released on September 29. Districts will also be a part of this document as is the export center scheme.

The country’s exports grew by 17.68 per cent to $193.51 billion in the April-August period in the current fiscal. During this period, imports increased by 45.74 percent to $318 billion. In this way, the trade deficit has increased to $ 124.52 billion. The trade deficit stood at $53.78 billion in April-August, 2021.

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