New Foreign Trade Policy likely to be out on Sept 29

New Delhi, Sept 21 (KNN) The Commerce Ministry is expected to announce the new foreign trade policy (FTP) for a period of five years on September 29, 2022.

The current FTP will remain in effect till September 30, 2022.

As per reports, the plan to use districts as export hubs is likely to be included in the upcoming policy. Firstly, the focus will be on all those districts that offer scalable products with significant export potential.

Centre will also outlines support measures in the policy for exporters of both commodities and services.

The upcoming policy will play a significant role in increasing the nation’s export shipments.
During the months of April through August of this fiscal year, the nation's exports increased by 17.68 per cent to USD 193.51 billion while its imports increased by 45.74 per cent to USD 318 billion.

From April to August of 2021, the trade deficit increased to USD 124.52 billion from USD 53.78 billion.  (KNN Bureau)