Foreign Trade Policy (FTP) 2023
What is the aim of Foreign Trade Policy 2023?
The new FTP 2023 AIMS boosts the globalisation of trade in Indian rupees by the settlement of Indian trade in the currency of India. It is a set of rules for the import and export of goods that aims to improve and encourage international trade.
What is the main focus of FTP 2023?
The main goal of this FTP 2023 is to reach US$2 trillion in exports by shifting from a motive-driven economy to an enlightened one. This was aimed to increase economic growth, increase competition, and integrate into the global economy.
What is the new Foreign trade policy of India in 2023?
The FTP 2023 is a document containing policies of time-tested schemes for making exports easier. FTP is based on the principles of partnership and trust with the exporters.
What are the four pillars of FTP 2023?
The FTP 2023 is based on 4 pillars:
- The government is rewarding and extending support to encourage exporters.
- Indian exporters from different regions of India and outside the country work together to boost the export of Indian goods.
- The government makes it easy for businesses to continue smoothly by reducing the costs of transactions and using online platforms.
- Encouragement to new businesses such as e-commerce and development of districts.
Who launched the foreign trade policy in 2023?
The Foreign Trade Policy (FTP) 2023 was launched by Union Minister Shri Piyush Goel on April 1. It is a document containing policies of time-tested schemes for making exports easier.
Who controls India’s foreign trade?
The Ministry of Commerce and Industry controls the foreign trade in India.
Foreign Trade Policy (FTP) 2023
Foreign Trade Policy (FTP) 2023 was recently introduced by the Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles. This policy, effective from April 1, 2023, aims to maintain the continuity of well-established schemes that support exports while also being adaptable and responsive to the evolving needs of trade. The policy aims to achieve a long-term vision of increasing India’s exports of goods and services to $2 trillion by 2030, which would enhance India’s share in global trade and boost its economic growth. The policy also seeks to align India’s foreign trade with its national priorities and global commitments.
In this article, we will read about Foreign Trade Policy (FTP) 2023, its impact on the future of India, challenges related to this policy, etc.
Table of Content
- What is Foreign Trade Policy 2023?
- What is India’s Foreign Trade Policy?
- Types of Foreign Trade Policy (FTP)
- Features of Foreign Trade Policy 2023
- Objectives of Foreign Trade Policy (FTP)
- Highlights of Foreign Trade Policy 2023
- Impact of Foreign Trade Policy 2023
- Challenges to the Foreign Trade Policy (FTP) 2023
- Latest News On – Foreign Trade Policy (FTP)
Contact Us