27 Sep '22
(Fibre2Fashion News Desk (KD): India’s ministry of commerce and industry has extended the Foreign Trade Policy (FTP) 2015-20 for another six months, with effect from October 1, 2022. Export promotion councils and leading exporters urged the government to extend the current policy.
“In recent days, exporters and industry bodies have strongly urged the government that in view of the prevailing, volatile global economic and geo-political situation, it would be advisable to extend the current policy for some time and undertake more consultations before coming out with the new policy,” the ministry said in a media release.
In March this year, the government had extended the FTP 2015-20 till September 2022. The present policy came into force on April 1, 2015. It offers incentives under different schemes such as Duty-Free Import Authorisation (DFIA) and Export Promotion Capital Goods (EPCG).