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With a view to promoting the country's outbound shipments of goods and services, Commerce Secretary Sunil Barthwal has said that the government is likely to release the new five-year foreign trade policy (FTP) by the end of this month. The current foreign trade policy (2015-20) is in force till March 31, 2022.

Barthwal said that the ministry has looked at various aspects of that FTP as the policy is basically the collection of various incentive schemes. They are also adding the aspect of vision into that as the ministry is targeting to take the goods and services exports to $2 trillion by 2030.

He added ‘'So, within that framework, we have worked out our FTP and we are expecting that it would be released by the end of this month’. FTP provides guidelines for enhancing exports to push economic growth and create jobs. It was first extended on March 31, 2020, for one year due to the coronavirus outbreak and the lockdown.