Home / Knowledge / News / Textiles / Revised Foreign Trade Policy to promote SME exports
Revised Foreign Trade Policy to promote SME exports
May '17
Minister of state for commerce and industry Nirmala Sitharaman interacting with the media on mid-term review of Foreign Trade Policy 2015-2020, in New Delhi. Courtesy: PIB
Minister of state for commerce and industry Nirmala Sitharaman interacting with the media on mid-term review of Foreign Trade Policy 2015-2020, in New Delhi. Courtesy: PIB
The core focus of the revised Foreign Trade Policy (FTP) would be promoting exports from the small and medium enterprises (SMEs) and sectors with high employment potential such as apparel. The revised FTP would be released early to synchronise the same with roll out of Goods and Services Tax (GST), commerce and industry minister Nirmala Sitharaman has said.

Sitharaman chaired a meeting on the mid-term review of FTP 2015-2020, organised jointly by department of commerce and Research and Information System for the Developing Countries (RIS). It was attended by the trade policy experts from the industry, academia, research and government.

Major suggestions discussed during the deliberations related to promoting rupee trade, facilitating not only exports but also imports, and reducing cost of credit. Participants recommended harnessing the high foreign exchange earnings and large employment generation potential of services related to the tourism, education and health sectors.

Concerns were also raised on issues relating to GST and its impact on export. Minister said that department of commerce has already taken up these issues with department of revenue (DoR), and assured that it will again take up these issues with DoR for placing it before GST Council to find a solution.

Critical role of logistics sector for export competitiveness was also discussed. Reducing the cost of credit in promoting exports, export basket diversification, strategy for promoting value added exports, agriculture exports and services exports were also deliberated, an official statement said.

The mid-term review of FTP 2015-2020 was initiated by the department of commerce in January 2017. As part of the process, director general of foreign trade (DGFT) has held consultation with a cross section of stakeholders, including exporters, traders, export promotion councils, commodity boards, various ministries of the Central and state governments, foreign missions of India and industry bodies. (RKS)

Fibre2Fashion News Desk – India

Interviews View All

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Madhu Sudhan Bhageria,

Madhu Sudhan Bhageria

Incorporated in August 1990, Filatex India Ltd manufactures manmade...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Hemant Bheda, Arevo

Hemant Bheda

Arevo, based in Silicon Valley in California, develops technology to...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram


Follow Fibre2Fashion On

Advanced Search