Foreign Trade Policy 2015-2020

Date: April 01, 2015

Foreign Trade Policy 2015-2020 Make in India SEIS MEIS

Government unveils new Foreign Trade Policy 2015-2020 to lift exports

The Ministry of Commerce today released Foreign Trade Policy (FTP) for the term 2015-2020.The focus of the policy is to promote exports of value-added and labour intensive manufacturing as well as services. High-tech exports too will be encouraged. The new five year Foreign Trade Policy, 2015-20 provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in keeping with the “Make in India” vision of Prime Minister.  The focus of the new policy is to support both the manufacturing and services sectors, with a special emphasis on improving the ‘ease of doing business’.

FTP2015-20. introduces two new schemes, namely “Merchandise Exports from India Scheme (MEIS)” for export of specified goods to specified markets and “Services Exports from India Scheme (SEIS)” for increasing exports of notified services, in place of a plethora of schemes earlier, with different conditions for eligibility and usage.

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Salient features  Foreign Trade Policy (FTP) 2015-2020:- 
     

     1-The new Foreign Trade Policy 2015-2020 (FTP 2015-20) is made product wise and location wise and tried to maximize the foreign trade from the country.

     2- The Foreign Trade Policy 2015-2020 has been designed by including long term and medium term strategy to boost overall growth of India’s foreign trade by enhancing trade competitiveness.

     3- The  FTP 2015-2020 targeted to double the India’s share in world trade from the present level of 3% by the year 2020.

     4- Under it e-Commerce Exports Eligible For Services Exports From India Scheme.

     5- Commerce Minister announced two new schemes in Foreign Trade Policy 2015-2020,these are Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS).

     6 - It insists on the need to ensure local products & services are globally competitive

     7- The focus is  on improving ease of doing business in new foreign trade policy.