Govt extends incentives under foreign trade policy.

​NEW DELHI : The government will continue the provisions and incentives under the ongoing foreign trade policy (2009-14) until further orders. The five-year policy was to come to an end on Mar 31. The decision has been made with an aim to provide policy stability till the next government comes to power.

“The existing Foreign Trade Policy 2009-14 (RE-2013) was to remain in force until 31.3.2014. To provide continuity in policy environment, this is being extended beyond 31.3.2014 until further orders,” a notification on the Directorate General of Foreign Trade said.

The commerce and industry ministry, which formulates the foreign trade policy has already commenced consultations with stakeholders, but will go slow when it comes to coming up with the new document as key ministers and officials may change after General Elections.

“We are in the works (of formulating foreign trade policy). It should take us few months to dish out the final product. We are in the process,” Commerce Secretary Rajeev Kher had said. India’s foreign trade policy relating to export and import of goods and services came to force with effect from Aug 7, 2009.

Source : freepressjournal.in