(a) whether the current trade policy is going to expire in March, 2021;
(b) if so, whether the Ministry has formulated a new Trade Policy and if so, the present status of the same;
(c) the details of consultations that have been held with various stakeholders and details of suggestions given and accepted by the Ministry?
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY
(SHRI HARDEEP SINGH PURI)
(a) to (c) : The current Foreign Trade Policy (2015-2020) which was announced for a period for five years was extended by a year due to COVID-19 till 31st March, 2021. In order to prepare Foreign Trade Policy (2021-2026), Trade Notice No. 34 dated 12.11.2020 was issued inviting suggestions from Individuals, Export Promotion Councils, Industry Associations and other stake holders based on which a number of inputs/suggestions have been received. A Board of Trade meeting was held on 02.12.2020 with various stakeholders including State Governments. Meeting with Export Promotion Councils (EPCs) and Industry associations were held on 4.12.2020 and 7.12.2020 respectively. Another meeting with EPCs and Industry associations was held on 11.2.2021. As part of consultation, a meeting of the Parliamentary Consultative Committee of the Ministry of Commerce and Industry was held on the ‘New Foreign Trade Policy’ on 12th January, 2021. The work of preparation of new Foreign Trade Policy (2021-2026) is ongoing.
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