Government Extends Current Foreign Trade Policy Till September
India’s trade deficit, the gap between exports and imports, was $15.36 billion in May, slightly higher than $15.33 billion in April. (Photographer: Tomohiro Ohsumi/Bloomberg)

Government Extends Current Foreign Trade Policy Till September

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The government on Wednesday extended the existing foreign trade policy for six more months up to Sept. 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 Sept. 30, 2021," the Directorate General of Foreign Trade said in a notification. Exports during April-February this fiscal dipped by 12.23% to $256 billion. Imports during the period too declined by 23.11% to $340.8 billion, leaving a trade deficit of $84.62 billion.

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