3 reasons why FTP review was awaited

Export figures for October 2017 had suggested that the GST imbroglio was finally affecting the performance of several sectors

The mid-term review of the Foreign Trade Policy (FTP), 2015-2020, was a much anticipated document for at least three reasons. At the very top were the expectations of the exporters that the government would finally deliver a permanent solution to the myriad of problems that they have been facing to get their goods and services tax (GST) refunds. Equally significant was the government’s response to the emerging reality of the WTO rules, which would make India ineligible to use export subsidies. This would put at risk the core of India’s FTP, namely, export incentives. The third was government’s thinking on