Foreign Trade Policy may not be Released on Expected Date of 20 Oct

October 16: The latest news is that the Government officials are silent on whether the Foreign Trade Policy is being released on the speculative date of Oct 20 which is just after the results of the Maharashtra and Haryana elections and before Diwali. It is said that the new policy will be delayed till sometime November or even December.

According to PTI, the new foreign trade policy was likely to be announced on October 20. The much awaited five-year foreign trade policy (2014-19) is supposed to contain incentivise domestic value-added products, new rules for special economic zones (SEZs) and a review of free trade agreements (FTAs).

Meetings between Commerce and Revenue are on to hammer out a package to boost stagnant exports. The special report on measures to shore up exports by the Economic Division in DEA is seem as the main thought input in this respect.

Minister Nirmala Sitharaman claims that it would be “different”.

“Very soon the FTP will be unveiled. I can give you a broad idea, but not the intrinsic details. Whatever was the structure of earlier FTPs, it will be different from that,” Sitharaman said this last month while addressing a press conference on completion of the 100 days of the NDA government. (It is believed that the Minister is looking for a cue from PM Modi but the signal is not forthcoming as the State Elections are taking up the PM's time and attention).