The government on Tuesday extended the existing foreign trade policy (FTP) for another six months until March 31 next year, according to a statement.
It had previously extended the FTP (201520) until September 30 of this year due to the COVID19 crisis.
FTP provides guidelines for improving exports to stimulate economic growth and create jobs. As part of FTP, the government offers incentives under various systems such as the Duty Free Import Authorization (DFIA) and the Export Promotion of Capital Goods (EPCG).
“The existing FTP 20152020, which is valid until September 30, 2021, will be extended until March 31, 2022,” said the General Directorate of Foreign Trade (DGFT) in a message.
On March 31, 2020, the government extended FTP (201520) for one year to March 31, 2021 amid the coronavirus outbreak and shutdown. 4,444 exports totaled more than 185 billion US dollars in April, September 21, 2021.