Foreign Trade
Foreign Trade Policy 2023
The Indian government has recently announced its new Foreign Trade Policy (FTP), which replaces the previous one launched in 2015. The new FTP came into effect on April 1, 2022, and is aimed at increasing India’s overall exports to $2 ..
Month: Current Affairs – April, 2023
Category: Economy & Banking Current Affairs
Extension of Foreign Trade Policy 2015-20 – Update (September, 2022)
The current Foreign Trade Policy has been extended by six months due to currency volatility and global uncertainty. Key facts Foreign Trade Policy 2015-20 has been extended for the period of six months until March 2023. This extension will come ..
Month: Current affairs - September, 2022
Category: Economy & Banking Current Affairs
Amendment of Foreign Trade Policy of India for Rupee Settlement
The Central Government has made changes to the Foreign Trade Policy of India to activate the RBI’s mechanism facilitating trade in the Indian Rupee. Key facts The recently amended Foreign Trade Policy of India allows international trade invoicing, payment and ..
Month: Current affairs - September, 2022
Category: Economy & Banking Current Affairs
Extension of Foreign Trade Policy 2015-20
The Foreign Trade Policy 2015-20 has been extended by the government by six months up to 30th September 2022. Overview: Till 31st March 2022, the existing Foreign Trade Policy 2015-20 was valid. It has now been extended till 30th September ..
Month: Current Affairs - April, 2022
Category: Economy & Banking Current Affairs
Import of Oxygen concentrators for personal use permitted
The Directorate General of Foreign Trade recently notified that the import of oxygen concentrators shall be allowed for personal use. The Government of India has revised the Foreign Trade Policy, 2015-2020 to permit the import. About Oxygen Import The new ..
Month: Current Affairs - May, 2021
New Foreign Trade Policy
The Union Ministry of Commerce and Industry recently announced that the new Foreign Trade Policy. 2021-26 is to come into effect from April 1, 2021. What is the goal of New Foreign Trade Policy? To make India a 5 trillion ..
Month: Current Affairs - January, 2021
Wagah Border reopened by Pakistan for Afghan Exports
Pakistan government has resumed the Afghan exports through the Wagah Border crossing as part of the Pakistan-Afghanistan Transit Trade Agreement. Pakistan had already opened the Pak-Aghan Border at Torkham and Chaman round the clock for six days a week, in ..
Month: Current Affairs - July, 2020
GoI lifts ban on Paracetamol API exports
On May 28, 2020, the Government of India lifted the ban on export of paracetamol Active Pharmaceutical Ingredients. Highlights The removal of ban will now allow the export of pharmaceutical ingredients used for COVID-19 treatment. In order to achieve this, ..
Month: Current Affairs - May, 2020
GoI extends Foreign Trade Policy
On April 1, 2020, 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, GoI has planned to extend Foreign Trade Policy 2015-20 ..
Month: Current Affairs - April, 2020
US removed “Developing” Tag for India: What are its implications?
Recently, the United States of America removed the “developing” tag for dozens of countries. India is one amongst them. These countries are to be classified as developed economies Highlights The “Developing” status for a country in the US is associated ..