FTP: The saga of export benefits continues

The govt hopes lower duty in most items will make exports more competitive

The mid-term review of Foreign Trade Policy (FTP) was a highly anticipated policy development amidst an ebbing export climate, slowdown in developed economies, Brexit, volatility in commodity prices and general uncertainty in the business environment across the globe. Substantial measures were needed to boost India’s share in global exports and reassure the government’s strong resolve to transform India into a manufacturing and export hub. The mid-year review was deliberately deferred from July 1, 2017, so that crucial policy changes address the impact of the goods and services tax (GST) on exporters and consider feedback from various stakeholders including exporters, industry