(MENAFN- KNN India) Commerce Minister Nirmala Sitharaman today unveiled its foreign trade policy (FTP) for five years from 2015 to 2020. Unveiling the policy, the Minister said that the new policy would boost exports and create jobs while supporting the Centre's 'Make In India' and 'Digital India' programmes.
FTP would focus on defence, pharma, environment-friendly products and value-added exports. She also said, that the govt. will continue to incentivise units located in special economic zones.
With a focus on employment-creating sectors, the Policy also promote e-commerce.
The Policy also announced two new schemes - Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS). Under MEIS, a higher level of support would be provided to processed and packaged agricultural and food items. And, agricultural and village industry products would be supported across the globe at the rates of 3 per cent and 5 per cent.
The Policy also announced reduction in Export obligation under the export promotion capital goods scheme by 25% to promote domestic manufacturing. (KNN/DB)
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