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BW Businessworld

Govt Extends Current Foreign Trade Policy Till Sep

Exports during April-February this fiscal dipped by 12.23 per cent to USD 256 billion. Imports during the period too declined by 23.11 per cent to USD 340.8 billion, leaving a trade deficit of USD 84.62 billion.

Photo Credit : Bloomberg

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The government on Wednesday extended the existing foreign trade policy (FTP) for six more months up to September 30 this year, according to a notification.

FTP provide guidelines for enhancing exports to push economic growth and create jobs.

On March 31, 2020, the government had extended the Foreign Trade Policy 2015-20 for one year till March 31, 2021, amid the coronavirus outbreak and the lockdown.

'The existing FTP 2015-20, which is valid up to March 31, 2021 is extended up to September 30, 2021,' the Directorate General of Foreign Trade said in a notification.

Exports during April-February this fiscal dipped by 12.23 per cent to USD 256 billion. Imports during the period too declined by 23.11 per cent to USD 340.8 billion, leaving a trade deficit of USD 84.62 billion. 

(PTI)