Do you know what the Government chooses to increase exports and trade? A foreign trade policy is a collection of rules that a country uses to fulfill its domestic production and export objectives. Foreign Trade Policies (FTP) is released every five years by the Indian government and the Ministry of Commerce and Industry; the most recent FTP (2015-20) went into force in April 2015. The policy was extended until September 2021, despite the fact that it was set to expire in April 2021. After this extension expires, the new FTP 2021-26 will take effect. The Indian economy is still recovering from the effects of COVID-19, which left practically every industry fighting for survival. With the introduction of vaccination campaigns and the relaxation of shutdown restrictions, Indian exports have steadily increased. Over the years, the government has made a number of steps to increase the country's exports. To promote the manufacturing sector and give incentives for production, a major programme known as the "Production-linked Incentive" (PLI) scheme was implemented. The PLI scheme had a budget of Rs. 1.97 lakh crore (US$ 26.47 billion) to stimulate manufacturing across several industries, enhance exports, and create jobs.

Abhijith S

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