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Foreign Trade Policy
April 4 , 2020
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- The Government of India notified that the export schemes such as Export Promotion Capital Goods and Duty-Free Import authorization are to be extended by one year.
- Also, the Government has planned to extend Foreign Trade Policy 2015-20 by another one year till 2021.
- It targets to bring in overseas sales of 900 billion USD by 2020.
- The policy launched five different schemes.
- They include Focus Product Scheme, Focus Market Scheme, Market-linked Focus Product Scheme and Agriculture infrastructure incentive scrip.
- Gram UdyogYojana and VisheshKrishi were merged with single merchandise exports, the MEIS (Merchandise Exports from India Scheme) scheme.
- The policy also aimed to diversify export baskets of the country.
- It also aimed to provide regular appraisal mechanism to reduce trade imbalances.
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