The central government will bring a new foreign trade policy before September, the objective will be to increase exports and create employment.

The commerce ministry is preparing to bring a new five-year foreign trade policy (FTP) before September this year.

The commerce ministry is preparing to bring a new five-year foreign trade policy (FTP) before September this year. A plan to convert each district into an export hub will also be part of the document.

The commerce ministry is preparing to bring a new five-year foreign trade policy (FTP) before September this year. to each district export (Export) A plan to change the center will also be part of the document. Giving this information, an official said that the purpose of FTP is export promotion and employment. (Employment) There will be creation. Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce, this policy (Policy) is preparing. He would soon approve this proposal for the allocation of funds for the scheme to the Ministry of Finance. (Finance Ministry) will send to

Districts to be selected for export

The official said that under this scheme, initially 50 such districts will be focused, whose products can be taken forward and which have huge export potential.

DGFT selects these districts through competition. The official said that the states and districts which want to get financial incentives under this scheme have to compete for it. There are a total of 750 districts in the country. The official said that it will be a kind of competition between the states and the districts. He said that we will come up with detailed guidelines for this. This scheme will also be included in the FTP.

The official said that this would be a centrally sponsored scheme. The Center will bear 60 percent of its burden and the rest of the states will have to bear it. He told that his attempt is to release the FTP before September.

Existing policy applicable till September 2022

According to the document of the Ministry of Commerce, states will have to actively show interest in export promotion activities. Exports will not grow without their participation. The plan to convert districts into export hubs is aimed at promoting exports and manufacturing and generating employment at the grassroots level. The current Foreign Trade Policy (2015-20) is in force till September 2022.

Apart from this, let us tell you that India and the European Union completed the first round of talks for the proposed free trade agreement on Friday and the next round of talks will be held in Brussels in September. The Ministry of Commerce gave this information on Saturday. The purpose of this agreement is to strengthen economic ties between the two sides. India and the European Union resumed talks on June 17 after eight years on the proposed trade investment and geographical indication (GI) agreements.

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