India has reach record high Export Performance in Merchandise and Services Exports during this period. India’s Merchandise and Services exports is expected to cross record USD 760 Billion in FY2022-23. FTP 2015-20 contributed to this illustrious export performance.
NEW FOREIGN TRADE POLICY 2023
– Approach to move from incentives to tax remissions and provide better administration of cross border trade
– Focuses of the next generations problems including E-Commerce exports, District Export Hubs and streamlining SCOMET policy
– Improving timelines for compliances which are currently undertaken in 3-30 days to 1 day under Automatic Route
– Reduction in user fee for MSME and small business for obtaining various licenses
– Paperless cross border trade with E-Certificate of Origin, paperless assessment, paperless filings etc.
– Rationalisation of Status Holder thresholds for obtaining Star Ratings.
Read the complete Foreign Trade Policy 2023 here.
