On March 31, 2020, the government extended the Foreign Trade Policy 2015-20 by one year until March 31, 2021, between the outbreak of coronavirus and the lockdown.
According to a notification, the government on Wednesday extended the current foreign trade policy (FTP) by six months till 30 September this year.
The FTP provides guidelines to increase exports to drive economic growth and create jobs.
On March 31, 2020, the government extended the Foreign Trade Policy 2015-20 for one year to March 31, 2021, amidst the outbreak of coronovirus and lockdown.
The Directorate General of Foreign Trade said in a notification, “The current FTP 2015-20, which is valid till March 31, 2021, has been extended till September 30, 2021.”
Exports declined by 12.23 percent to US $ 256 billion in this fiscal year during April-February. Imports also declined by 23.11 percent to USD 340.8 billion during this period, leaving a trade deficit of USD 84.62 billion.
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