Commerce and Industry Minister Piyush Goyal unveiled FTP 2023 which will come into effect from April 1. The Foreign Trade Policy 2015-20, which was to end in March 2020 was extended due to the Covid19 pandemic and volatile geo-political scenario and was set to end today. Unlike in the past when the FTP used to run for 5 years, the latest policy has no end date and will be updated as and when needed, Director General of Foreign Trade (DGFT) Santosh Sarangi told the media. He also announced that India was likely to end this fiscal year with total exports of $760-770 billion as against $676 billion in 2021-22.
The new FTP identifies four new Towns of Export Excellence (TEE) ~ Faridabad, Moradabad, Mirzapur, and Varanasi- in addition to the already existing 39 TEES.
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