Foreign TradeMarket TrendsPolitics

Extension of the foreign trade policy for the upcoming six months

On Monday, the news comes that the government announced that they are extending the foreign trade policy for another six months. The government takes this step in order to maintain the volatile global economy, currency fluctuation, and geopolitical situation. 

The last Foreign trade policy (2015-2020) will be ending on the 30th of September but because of the high need & continue fluctuating currency value they extended it till 30th march. 

According to the India Import-export Data, the Indian goods export growth increased by 1.62% in august.

The policy is continued till March 2023 in order to see the huge demand in the export sector. Also, some new policy is applied in the future in order to maintain currency fluctuation.  

The statement was given by Amit Yadav the additional secretary of the Department of Commerce. 

For more information about the import-export sector. Check the official page of the global import-export data provider

Reference of this news is being taken from the Economic Times.

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