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27/09/2022 12:38pm

Foreign Trade Policy announcement deferred; status quo till March 2023

image Foreign Trade Policy announcement deferred; status quo till March 2023

New Delhi, Sept 27 (KNN) The Ministry of commerce and Industry on Monday announced its decision to extend the current foreign trade policy (2015-2020) which was valid till September 30, 2022 for another six months.

Speaking about the extension, the 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.

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The decision to extend the FTP’s duration comes at the backdrop of the current geo-political situation and currency fluctuations.

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

The policy was first extended on March 31, 2020 for a year due to the pandemic and the lockdown imposed to control its spread.  (KNN Bureau)

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