India
NEW FOREIGN TRADE POLICY HAS NOVEL FEATURES
TEXTILE INDUSTRY NEEDED MORE FOCUS
2015-04-02 11:47
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At a time when India’s external vulnerabilities to global headwinds remain none too encouraging, the Narendra Modi Government has unveiled its five-year Foreign Trade Policy (FTP) from April 1, 2015 with a lofty goal to push the country’s exports of goods and services from $ 465.9 billion in 2013-14 to roughly $ 900 billion by 2019-20. Wisely, the government has not factored in the patchy performance of 2014-15, the fiscal year just past, because against the merchandise export target of $ 340 billion, exports during the eleven months till February 2015 fetched $ 286 billion, leaving the attainment of target in a single month anywhere even half the $54 billion.