The government is likely to unveil the new Foreign Trade Policy (FTP)on April 1, which is expected roll out incentives to boost exports.
"We are trying to unveil the new FTP on April 1. It will be aligned with Make In India, Digital India, ease of doing business and India's free trade pacts with its partner countries," a commerce ministry official told PTI.
The much-delayed FTP may include sops for labour incentive sectors like leather and handicraft. It is likely to talk about ways to enhance the country's services exports, the official said.
The foreign trade policy, which is usually announced in April, provides guidelines for enhancing exports with the overall objective of pushing economic growth and generating employment.
Under the policy, the government gives fiscal incentives to exporters under different promotion schemes such as Market Access Initiative, Marketing Development Assistance, Vishesh Krishi and Gram Udyog Yojana, Focus Market Scheme, Focus Product Scheme and Market Linked Focus Products Scrip.
Exporters had raised concerns over the delay in announcement of the FTP as the fiscal year is coming to an end.
Falling for the straight third month, India's exports declined steeply by over 15 per cent to USD 21.54 billion in February, even as trade deficit narrowed to USD 6.85 billion.
