Foreign trade policy extended by six months amid global headwinds

An FTP is an elaborate policy guideline and a strategy to promote export of goods and services

Days ahead of unveiling the much-awaited new foreign trade policy (FTP) document, the Centre on Monday announced extension of the existing policy by another six months due to global headwinds.

Amit Yadav, additional secretary at the department of commerce, told reporters that the decision was taken after consultations with export promotion councils. It was felt that the time was not ripe to roll-out the new policy, especially when the global economy is headed towards a recession, he said.

Yadav also said the government received requests from various quarters that the existing policy should be continued due to prevailing geopolitical tensions,