Explain the foreign trade policy of India.
India’s Foreign Trade Policy (FTP) plays a crucial role in shaping the country’s international trade and economic growth. The policy sets the framework for regulating, promoting, and facilitating trade between India and the rest of the world. The FTP is structured around the broader goals of improving India’s export performance, diversifying export markets, and ensuring trade-related policies align with the global economy. Over the years, the foreign trade policy has evolved in response to changing economic realities, trade dynamics, and global agreements.
The FTP is periodically updated by the Government of India, usually every five years, though it can be amended as required in the interim. The current FTP, which extends from 2023 to 2028, seeks to create a more predictable and sustainable trade _______ _________ _______ __________ _________ _________ ___.
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