Govt may wait for clarity before announcing new foreign trade policy

The latest trade figures show that between April 2020 and February 2021, exports of merchandise and services stood at $439.64 billion

The Foreign Trade Policy 2015-20, which was extended by one year due to Covid-19, expires on March 31. It is not yet clear whether a new policy will be introduced or the same will be extended.

In the Foreign Trade Policy Statement 2015-16, the commerce ministry said the government aims to increase India’s exports of merchandise and services from $465.9 billion in 2013-14 to about $900 billion annually by 2019-20, and to raise India’s share in global exports from 2 per cent to 3.5 per cent. This has not happened.

The latest trade figures show that between April 2020 and February 2021,