Bookmark Bookmark

NEW FOREIGN TRADE POLICY TO COME INTO EFFECT FROM APRIL 1

NEW FOREIGN TRADE POLICY TO COME INTO EFFECT FROM APRIL 1

Context

 India''s new Foreign Trade Policy, under formulation, will come into effect from April 1, 2021, for five years.

Details

  • The Parliamentary Consultative Committee of the Ministry of Commerce and Industry held a meeting on the subject ''New Foreign Trade Policy 2021-26''.
  • It was chaired by Minister of State for Commerce and Industry Hardeep Singh Puri and attended by Members of Parliament (MPs) and senior officers of the ministry.
  • It was informed that the District Export Hubs Initiative will form an important component of the new FTP
  • It was informed that the new Foreign Trade Policy-FTP will come into effect from 1st April 2021 for a period of five years.
  • The policy will strive to make India a leader in the area of international trade and channelize the synergies gained through merchandise and services exports for growth and employment with a goal to make India a 5 trillion dollar economy.
  • The FTP 2015-20 came into effect on 1st April 2015 and the same was extended by one year till 31 March this year due to Covid-19 pandemic.

You might be interested:

CENTRE RELEASES MANAGEMENT EFFECTIVENESS EVALUATION (MEE) OF 146 NATIONAL PARK & WILDLIFE SANCTUARIES

CENTRE RELEASES MANAGEMENT EFFECTIVENESS EVALUATION (MEE)  OF 146 NATIONAL PARK & WILDLIFE SANCTUARIES Context Environment, Forest and Climate Change Minister Prakash Javadekar released Mana ...

6 days ago

INDIA PROPOSES 8 POINT AGENDA AT UNSC OPEN DEBATE TO COMBAT TERRORISM

INDIA PROPOSES 8 POINT AGENDA AT UNSC OPEN DEBATE TO COMBAT TERRORISM Context India has proposed an eight-point Action Plan to counter global terrorism and called upon the world community to ‘& ...

6 days ago

MOU BETWEEN INDIA AND UAE FOR SCIENTIFIC AND TECHNICAL COOPERATION

MOU BETWEEN INDIA AND UAE FOR SCIENTIFIC AND TECHNICAL COOPERATION Context Union Cabinet gave its approval to the Memorandum of Understanding (MoU) on Scientific and Technical Cooperation between Nat ...

6 days ago

HENLEY PASSPORT INDEX 2021 RELEASED

HENLEY PASSPORT INDEX 2021  RELEASED Context Japan has topped the Henley Passport Index 2021, Details Japan has topped the list of being the most powerful passport in the world, for the third ...

6 days ago

HARVEST FESTIVAL CELEBRATED IN COUNTRY

HARVEST FESTIVAL CELEBRATED IN COUNTRY Context The harvest festivals like Lohri, Makar Sankranti and Pongal celebrated all across the country. About Pongal Festival It is also referred to as Thai P ...

6 days ago

51ST INTERNATIONAL FILM FESTIVAL TO HELD FROM 16 JAN

51ST INTERNATIONAL FILM FESTIVAL TO HELD FROM 16 JAN Context 51st International Film Festival will be starting at Goa on January 16, 2021. Details Bangladesh announced to be the country of focus a ...

6 days ago

Provide your feedback on this article: