Govt extends foreign trade policy, other export benefits for one year

The government on Tuesday extended the existing Foreign Trade Policy 2015-20, including fiscal incentives for goods’ exports by one year till March 2021, amid the coronavirus outbreak and the lockdown to contain the virus spread.

The commerce ministry said that in view of the “unprecedented current situation" arising out of the Covid-19 pandemic, it has decided to continue relief under various export promotion schemes by granting extension of the existing policy by another one year.
 

Currently, tax benefits are provided under the Merchandise Export from India Scheme for goods and the Services Export from India Scheme).