New foreign trade policy may focus on non-fiscal measures to boost exports

The policy could throw light on how India may want to be integrated into the global value chain, for which realignment has started, and factors that have affected the integration

The new foreign trade policy (FTP) is likely to spell out guidelines to make Indian exports competitive through non-fiscal measures, marking a significant change from the existing policy that focused on incentive-driven schemes.

Ahead of the unveiling of the new FTP — a comprehensive policy strategy to promote export of goods and services — exporters said it should be ‘flexible’ enough to deal with various uncertainties and geopolitical challenges that the world has been witnessing over more than two years.

The policy could throw light on how India, in a post-Covid-19 world, may want to be integrated into the global