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The government has started the review process for the on-going five-year foreign trade policy (FTP). It expects to come up with its mid-term review of the policy sometime next year as promised.
“When the five-year FTP was announced last year we had said that we will come out with a review after two-and-a-half years. The process for the review has been started by the Directorate General of Foreign Trade,” Commerce & Industry Minister Nirmala Sitharaman said at an interaction with the media.
The Commerce Ministry has been announcing some additional sops for exporters from time to time such as increasing the number of items eligible for incentives under the merchandise export incentive scheme.
The additional sops were extended to help exporters tide over the grim international market situation, Sitharaman said, adding that there has been no change in policy.
India’s total goods exports in April-September 2016-17 fell 1.74 per cent to $131.40 billion compared to the same period last fiscal.
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