Centre extends foreign trade policy by 6 months : Industry awaits revamped policy that will clear many roadblocks

The Indian government in consultation with stakeholders has decided to put off the much awaited new Foreign Trade Policy (FTP) by another 6 months. Around 70 per cent of Indian exports constitute products that have just 30 per cent share in the global market, according to the Trade Promotion Council of India. The government has been looking to export more value added products and is specifically looking at product groups like defence equipment, medical devices, agro-processing, technical textiles and chemicals.