Foreign Trade Policy 2015-2020

The Union Commerce and Industry Ministry announced extension of the Foreign Trade Policy (FTP) of Government of India.
Important points:

  • The present Policy which came into force on 1st April 2015, was for 5 years and was extended thereafter upto 31st March, 2021.
  • In view of the persisting COVID-19 pandemic, the Government has decided to continue benefits under various export promotion schemes by extending existing Foreign Trade Policy by another six months i.e., up to 30th September, 2021.
  • Exemption from payment of IGST and Compensation Cess on the imports made under Advance/EPCG Authorisations and by EOUs etc. has also been extended up to 30.09.2021.
  • Similarly, validity period of the Status Holder Certificates is also extended. This will enable the Status Holders to continue to avail the specified facilities/benefits.

SOURCE: THE ECONOMIC TIMES,MINT

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