Centre extends existing FTP till March
Earlier on March 31, 2020, govt had extended the Foreign Trade Policy 2015-20 for 1 year till March 31, 2021, due to Covid outbreak
Commerce and Industry Minister Piyush Goyal
New Delhi: Commerce and Industry Minister Piyush Goyal on Monday said the existing foreign trade policy (FTP) will be extended till March 31, 2022. The government had earlier extended the FTP 2015-20 until September 30, 2021, due to the Covid-19 crisis.
The Foreign Trade Policy provides guidelines for enhancing exports to push economic growth and create jobs.
"We are notifying it today evening or tomorrow. We have decided to extend the policy until March 31, 2022, and in the new financial year, we can start with the new policy," he told reporters here.
He expressed hope that by that time, Covid-19 issues would be resolved.
On March 31, 2020, the government had extended the Foreign Trade Policy 2015-20 for one year till March 31, 2021, amid the Coronavirus outbreak and the lockdown. Exports during April-September 21, 2021, stood at over $185 billion, he added.
The FTA 2015-20 policy came into force on April 1, 2015, for five years.
Along with previous the extension, the 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 September 30, 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.
