India’s new Foreign Trade Policy (FTP) exhibits a transformational departure from earlier trade policies in multiple ways, making it futuristic, flexible and dynamic in addressing the ever-changing needs of international business and our trading community. The policy sets a target of achieving exports worth $2 trillion by 2030 and outlines a broad strategy to achieve it. Given India’s total exports of goods and services have touched over $760 billion, and with futuristic policy measures unveiled in the FTP, it seems India may achieve that target earlier than expected. Targeted interventions have already resulted in exports of electronic goods jumping by 162% from $6 billion in 2015-16 to $16 billion in 2021-22, of engineering goods by 81% to $112 billion, and of toys by 89% to $546 million.
https://www.livemint.com/opinion/columns/our-new-foreign-trade-policy-is-transformational-and-futuristic-11680722046081.html
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