Foreign Trade Policy 2015-20 extended for further period of six months.

September 28, 2022

The reason behind the development is currency volatility and global uncertainty. The ministry said, the geo-political situation is not suitable for long-term foreign trade policy.
Earlier, the government had extended the due date for the Foreign Trade Policy 2015-20 to September 30, 2022. Currently, fears of a recession in major economies like the US and Europe have escalated a panic among investors.
Foreign Trade Policy provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country. It focuses to support both the manufacturing and services sectors.
Earlier this month, Commerce Minister Piyush Goyal held a meeting that focused on export target setting, the new Foreign Trade Policy (FTP) (2022-27), and the strategies and measures to take forward domestic manufacturing and exports.
Foreign Trade Policy 2015-20 was unveiled in 2015.
The policy provides a framework for increasing exports of goods and services keeping Make in India vision of Prime Minister in focus.
It also emphasizes on improving the ease of doing business.