Launch of Foreign Trade Policy 2023 - Finance Ppl

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Union minister of Commerce and Industry Shri.Piyush Goyal launched on 31st March 2023, foreign trade policy 2023.

In his speech, Shri. Piyush Goyal mentioned that FTP 2023 is a dynamic and open ended policy & will accommodate the emerging needs of trade and volatile environment.

The Minister re-called PM's interaction with exporters on August 2021, where PM had encouraged exporters to take active involvement in global value chain and increase exports. He added the core of FTP 2023 is PM's vision to grow exports manifold, considering size of India's economy and mfg./service base.  Accordingly FTP seeks to get India's exports to 2 trillion dollars by 2030

He addressed the business world, asking them to capture every opportunity for export and use them effectively. Emphasized that the next 5 months during G20 presidency should be utlised to outreach the world.

The event was attended by union minister for state commerce & industry Anupriya Patel, Commerce secretary Sunil Barthwal, Rajiv Talwar, Member Customs-CBDT, Director General of foreign trade, Santosh Kumar Sarangi have detailed presentation on the new FTP.

Note:
Validity of the FTP 2015-20 (expiring on 31.3.2030) was extended for another 1 year till 31.03.2021 due to COVID breakdown and lockdown. Since 2021, the policy has been extended from time to time, on request received from export promotion councils and leading exporters.

Subsequently in September 2022, the govt extended the validity of then FTP for a further period of six months till 31.03.2023.