Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
The new
foreign trade policy will facilitate greater trade, boost manufacturing and
help in making the rupee a global currency, the president of apex exporters'
body FIEO A Sakthivel on Friday 31March said.
The Foreign Trade Policy 2023 was
unveiled by Commerce and Industry Minister PiyushGoyal on Friday. It will come
into effect from April 1, 2023.
He said
that the focus of the FTP 2023 has been mainly on four pillars, including
moving on from incentives to remissions, and export promotion through collaborations.
"The
policy has rightly emphasised key elements, including ease of doing business
with a reduction in transaction cost and e-initiatives," he said.
Online
approvals with a physical interface, reduction in user charges for MSMEs under
advance authorisation and EPCG, e-certificate of origin, and paperless filing
of export obligation discharge applications will not only reduce the
transaction time and cost but will also help exporters in the timely discharge
of the export contract, he added.
He requested the government that a 3-6
months transition period may be provided, whenever a major change is notified
in the Foreign Trade policy so that the existing contract can be executed
factoring in the prevailing benefits.
Unlike the practice of a
five-year foreign trade policy, the FTP 2023 is without an end date and will be
updated as per the requirement.
