The Government of India has granted the extension to the Foreign Trade Policy (FTP) by another one year i.e. up to 31st March, 2021. The Foreign Trade Policy (FTP) was implemented on 1st April, 2015 for 5 years and was valid upto 31st March, 2020. The decision to extend the validity of the Foreign Trade Policy (FTP) was taken in view of the unprecedented current situation arising out of the pandemic Novel COVID-19.
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Along with extension, the Union Commerce and Industry Ministry has also announced some changes in the Foreign Trade Policy (FTP). Some key changes made in the FTP are as follows:
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