Government extends foreign trade policy till September 30 – Times of India


NEW DELHI: The federal government has additional prolonged the prevailing international trade policy (FTP) until September 30 this yr, based on a commerce ministry notification.
FTP gives tips for enhancing exports to push financial development and create jobs.
On March 31, 2020, the federal government had prolonged the foreign trade policy 2015-20 for one yr until March 31, 2021, amid the coronavirus outbreak and the lockdown.
Within the coverage, the federal government broadcasts help measures for each items and companies exporters.
“The prevailing international commerce coverage 2015-20 which is legitimate as much as March 31, 2022 is prolonged as much as September 30, 2022,” the Directorate Normal of International Commerce (DGFT) stated within the notification.
The merchandise exports rose by by 37 per cent to $400.8 billion in 2021-22 till March 21 towards $292 billion in 2020-21. Imports through the interval stood at $589 billion, leaving a commerce deficit of about $189 billion.
Federation of Indian Export Organisations (FIEO) director basic Ajay Sahai stated that it was a superb consideration to increase the FTP for few extra months.
In a separate notification, the DGFT stated import of urea on authorities account is allowed by Indian Potash Ltd until March 31, 2023.
That is topic to a norm beneath the international commerce coverage.


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