What are the main highlights of foreign trade policy 2015 2020?

What are the main highlights of foreign trade policy 2015 2020?

FTP 2015-20 provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in line with the ‘Make in India’ programme.

Which of the following is one of the objective of foreign trade policy 2015-20?

One of the major objective of new FTP is to move towards paperless working in 24×7 environment. Recently, the government has reduced the number of mandatory documents required for exports and imports to three, which is comparable with international benchmarks.

What are the objectives of foreign trade policy 2009 14 & 2015-20 )?

To arrest and reverse declining trend of exports is the main aim of the policy. This aim will be reviewed after two years. To Double India’s exports of goods and services by 2014. To double India’s share in global merchandise trade by 2020 as a long term aim of this policy.

What is the export target of India’s New foreign trade policy 2015 to 20?

The exports of India are expected to cross USD 325 billion from USD 178 billions in the financial year 2009-10. The present new Foreign Trade Policy 2015-20 targets to earn foreign exchange of one trillion by the year 2020.

Who announced the foreign trade policy for 2015 2020?

The Government of India, Ministry of Commerce and Industry announced New Foreign Trade Policy on 01st April 2015 for the period 2015-2020, earlier this policy known as Export Import (Exim) Policy.

What are the highlights of recent Exim policy of India?

Higher level of rewards under MEIS for export items with high domestic content and value addition. It is proposed to give higher level of rewards to products with high domestic content and value addition, as compared to products with high import content and less value addition.

What is foreign trade policy statement?

The Foreign Trade Policy (FTP) was introduced by the Government to grow the Indian export of goods and services, generating employment and increasing value addition in the country. The Government, through the implementation of the policy, seeks to develop the manufacturing and service sectors.

What are the highlights of foreign trade policy?

Highlight of Foreign Trade Policy- 2015-20

  • Simplification & Merger of Rewards Scheme.
  • Status Holder.
  • Boost to Make In India.
  • Trade Facilitation and Ease of doing Business.
  • Facilitating & Encouraging Export of dual use items (SCOMET)
  • Facilitating & Encouraging Export of Defense Exports.
  • E-commerce Exports.

What are the highlights of latest Exim policy?

What are the benefits under foreign trade policy?

Subsidies that lower export prices. Tax concessions such as duty exemptions (which enable duty-free import of inputs for export production) and duty remissions (which enable post-export replenishment of duty on inputs used in export product) Credit facilities such as low-cost loans.

What are the important changes and highlights expected in the new foreign trade policy 2021 26?

Focus on More Exports and Less Subsidies: Supporting Skill Development Programmes, Upgradation of Technology, etc. shall be the focus of the FTP 2021-2026. Tax Breaks: The FTP 2021-2026 is expected to provide some relief in terms of rates of tax to the exporters in order to boost up India’s position as a global market.