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You are at:Home»Business»New trade policy on the cards to boost exports; likely to be announced this month
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New trade policy on the cards to boost exports; likely to be announced this month

By September 5, 2022No Comments2 Mins Read
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The new Foreign Trade Policy will come on 30 September and the policy has been designed with the next five year in view. The policy will lay down a road map of the ‘Amritkaal’. The policy will give a boost to Indian exports. Here are some top things to know about the policy.

— The policy is likely to be announced on 30 September

— It will have provisions related to One District One Product (ODOP)

— Under the policy ecommerce and new export hubs will be created

— The policy will provide incentives for competitive and qualitative export promotion

— There will be a separate export promotion council that will be set up.

— The Special Economic Zones or SEZs will be upgraded and modified to DESH – Development of Enterprise and Services Hub

— the consultation work has been completed 

— The new foreign trade policy could be announced before 30 September

— The policy is coming after a gap of over 2 years

— The government had extended the existing policy in the wake of the Coronavirus Pandemic.  

– The previous policy was to end by 2020

ODOP

— The scheme for the first phase will be worth Rs 2200-2500 cr

— The Ministry of Commerce and Industry has readied a road map for the implementation of ODOP

— There will be an export hub in all districts

— All districts have enough potential not found even in many nations

— The

– The Commerce ministry has created an export promotion committee for each districts

— A work on creating necessary infrastructure is ongoing

– A full list of exports has been created

The domestic business will benefit from the FTAs (Free Trade Arrangements)

— This will give a huge boost to the exports

– There will be changes to benefit the MSMEs

— The government has been making trade agreements with many countries

– Trade agreements with UK is expected to take place this monthUK के साथ इसी महीने

– FTA with Canada likely to be done by Diwali

Restructuring of Commerce department

— The changes are being made to make India a developed economy

— The people from the corporate world will be included

— There will be experts from respective sectors for policy making



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