CURRENT AFFAIRS

Detailed explanation-1: -In view of this, it has been decided to extend the Foreign Trade Policy 2015-20, valid till Sept 30, 2022 for a further period of six months, w.e.f. October 1st , 2022.

Detailed explanation-2: -Synopsis. The government on Monday extended the existing Foreign Trade Policy (2015-20) by another six months till March 2023 on account of volatile global economic and geo-political situation and currency fluctuations.

Detailed explanation-3: -A notification in this regard was issued by the Directorate General of Foreign Trade (DGFT). The government on Thursday extended the existing Foreign Trade Policy (FTP) by six months till March 31, 2023. The current policy was to end on September 30.

Detailed explanation-4: -2021–2026: New Foreign Trade Policy The session was conducted on 12 January 2021 on the topic “New Foreign Trade Strategy for the year 2021-26.” According to the committee, the main purpose of the policy would be to position India as a leader in global trade within the next five years.

Detailed explanation-5: -The FTP was deferred and the current policy was extended and reviewed after every six months, as businesses grappled with the disruptions caused by the pandemic. Thereafter, the government was supposed to roll out the policy in March 2022. However, another extension was given till September 30, 2022.