- India’s Foreign Trade Policy, 2023 (FTP 2023) replaces the policy for 2015-2020 and focuses on a “remission and entitlement-based” regime compliant with WTO guidelines.
- It emphasizes technology and automation for greater trade facilitation, process re-engineering, and automation to make it easier for exporters to do business.
- The FTP 2023 targets emerging areas such as dual-use high-end technology items, e-commerce, and collaborating with states and districts for the promotion of exports.
- The policy will be updated on an as-needed basis, and a one-time amnesty scheme allows exporters to regularize their export compliance gaps.
Source BDO
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