Foreign Trade Policy 2015-2020 on April 1

The Minister of State (Independent Charge) Commerce and Industry Nirmala Sitharaman will release “Foreign Trade Policy 2015-2020”on April 1 1t 15:30 in Vigyan Bhawan. It is expected roll out incentives to boost exports, specially for service exports.

The new FTP on April 1 will be aligned with Make In India, Digital India, ease of doing business and India's free trade pacts with its partner countries.

The much-delayed FTP may include sops for labour incentive sectors like leather and handicraft. It is likely to talk about ways to enhance the country's services exports.

The foreign trade policy, which is usually announced in April, provides guidelines for enhancing exports with the overall objective of pushing economic growth and generating employment.

Under the policy, the government gives fiscal incentives to exporters under different promotion schemes such as Market Access Initiative, Marketing Development Assistance, Vishesh Krishi and Gram Udyog Yojana, Focus Market Scheme, Focus Product Scheme and Market Linked Focus Products Scrip.

The delayed FTP will be at the beginning of the new fiscal year and will have a life of five years till 2020.