As the current foreign trade policy 2015-2020 is in place till 30 September, new policy is likely to come by the end of next month.It may, reportedly, focus on e-commerce exports and developing districts as export hubs.
It may also detail ways to reduce the compliance burden on small exporters and fund MSMEs to increase exports.
As per a report of leading English daily, The Economic Times, the commerce department is working on the policy.
It quoted the officials that the department is working on ways to facilitate e-commerce exports through the policy.
The policy comes as India’s overall export growth slows and trade deficit remains a concern.
In FY ‘21-22, India’s export was a record US $421.8 billion and now the Government aims to take the value to US $1 trillion by 2030.
Exporters have sought a separate chapter on e-commerce in the policy that would enlist all the export benefits available to the sector that should be at par with conventional exports.
Ajay Sahai, DG, Federation of Indian Export Organisations, said “We have suggested setting up an integrated park for cross-border e-commerce.”
