What is India’s Foreign Trade Policy?
India’s Foreign trade policy (FTP) is a set of rules for the import and export of goods that aims to improve and encourage international trade. The foreign trade policy is made by the Directorate General of Foreign Trade Policy under the government of India. The export and import policy is announced by the Ministry of Commerce and Industry on April 1 every five years.
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)
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