An Outlook : Foreign Trade Policy [2015-2020]

The Foreign Trade Policy (FTP) is Framework for increasing the export and import of Goods and Services

FTP is a Statement in exercise of powers conferred under section 5 of Foreign Trade (Development &Regulation) Act. It is notified by Central Government  to underpinning the future strategies to achieve the objectives, goals, and Vision to enhance trade ecosystem of country.

India’s vision 2020, Foreign Trade will impinge to play significant role in world trade.Thou India’s foreign policy play significantly in Indian economy help to strategies for stable and sustainable developments in a country, reflecting its increasing globalized economy. India must assume its position of leadership in international trade discourse. In order to achieve the outcome of initiative’s initiated by government such as Clean India, Make-in-India, Digital India, Skill India are integrated with FTP policy to create ‘Export Promotion Mission’.

FTP aims to bring sustainable and stable environment for foreign trade in merchandise and services, promote the diversification of India’s export basket by helping various sectors of the Indian economy to gain global competitiveness. The current FTP sets its objectives to advocate the ease of doing business in India and formulate the outlining measures and procedures to access the opportunities. Presently, India is planning to seek major opportunities in manufacturing &Infrastructural developments whilst promoting Services.

Important SCHEME OUTLINE in FTP :

•  Merchandise Exports from India Scheme (MEIS)
• Service Exports from India Scheme (SEIS)
• Reduced Export Obligation (EO) for domestic procurement under EPCG scheme

The flexibilities and measures adopted in above schemes are helping to develop productive capacities for local/global consumption. DGFT continue to support and galvanize the ‘Niryat Bandhu Scheme’ towards Skill India.

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