Central Government notified the new Foreign Trade Policy 2023, in exercise of powers conferred by section 5 of Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) [FT (D&R) Act], as amended
Directorate General of Foreign Trade (DGFT) on 31st March 2023 issued notification no. 01/2023 to give enforcing effect to new Foreign Trade Policy, 2023 as per notification, “This Foreign Trade Policy shall come into force with effect from 1st April, 2023.
FTP 2015-20 which was to end on 31.03.2020 was extended due to COVID pandemic and volatile geo-political scenario till 31.03.2023. India has reach record high Export Performance in Merchandise and Services Exports during this period. Policy changes were being undertaken since 2015 even without announcement of a new FTP responding dynamically to the emerging situations.
The Foreign Trade Policy 2023 is being announced to provide the policy continuity and a responsive framework. The Foreign Trade Policy 2023 is being announced to provide the policy continuity and a responsive framework.