FTP extension gives time to rethink present policies

The commerce ministry should rethink its strategy of walking away from multilateral/regional trade negotiations and getting into more and more bilateral trade agreements

Last Monday, the government decided to extend the present Foreign Trade Policy 2015-20 (FTP) till the end of this fiscal year. On Thursday, the government issued the notification to this effect.

In a press release, the government said the FTP extension is a response to requests from exporters and industry bodies due to the uncertain and volatile global economic and geopolitical situation. Few are willing to take this explanation, as the government had prepared an FTP to be unveiled on Thursday and had even sent out invitations to many for attending the event. The bureaucracy was taking confirmation from each invitee