The existing Foreign Trade Policy 2015 2020 is extended upto 31st March, 2023

## Report on Amendment to Foreign Trade Policy 2015-2020 **1. Executive Summary:** This report analyzes an amendment to the Foreign Trade Policy (FTP) 2015-2020, as published in the Gazette of India on September 29, 2022. The core purpose of this amendment is to extend the validity of the existing FTP 2015-2020 from September 30, 2022, to March 31, 2023. The key finding is that this amendment provides continuity in foreign trade regulations for an additional six months, likely providing stability for businesses engaged in international trade. **2. Introduction:** The purpose of this report is to provide an informative overview and analysis of the amendment to the Foreign Trade Policy (FTP) 2015-2020, based solely on the official notification published in the Gazette of India on September 29, 2022. This report aims to clarify the changes introduced by this amendment and their potential impact on relevant stakeholders. **3. Policy Overview:** This amendment concerns the Foreign Trade Policy (FTP) 2015-2020. The core objective of the original policy, as inferred from the amendment, is to regulate and develop foreign trade. This amendment focuses on extending the lifespan of the existing policy. **4. Background and Rationale:** The amendment extends the existing Foreign Trade Policy 2015-2020, which was set to expire on September 30, 2022, until March 31, 2023. The likely reason for this extension, inferred from the timing, is to provide continued guidance and regulatory stability to the foreign trade sector while a new or revised policy is being formulated or finalized. This extension prevents a potential gap in policy coverage. **5. Key Provisions / Changes:** This amendment specifically modifies paragraph 1.01 of the Foreign Trade Policy 2015-2020. * **Original Policy (as it relates to the amendment):** Paragraph 1.01 stated that the FTP 2015-2020 "shall remain in force upto 30th September, 2022 unless otherwise specified." * **New Rule/Provision:** The amendment substitutes the original phrase with "shall remain in force up to 31.03.2023 unless otherwise specified." * **Difference/Effect:** The key difference is the extension of the policy's validity. The amendment adds an additional six months of validity to the existing FTP 2015-2020, pushing the expiration date to March 31, 2023. This ensures the continuation of existing trade regulations and benefits under the policy for an extended period. **6. Target Audience and Stakeholders:** Based on the provided text, the target audience and stakeholders directly affected by this amendment include: * Businesses engaged in import and export activities. * Organizations involved in foreign trade development and regulation. * Government agencies responsible for implementing and monitoring foreign trade policies (DGFT, Ministry of Commerce and Industry). * Related industries, such as logistics, finance, and manufacturing. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, is the primary responsible body, as indicated by the notification's origin and the Director General's signature. * **Timelines:** The amendment took immediate effect on September 29, 2022, extending the policy until March 31, 2023. This provides a clear timeline for businesses to plan their activities within the extended policy framework. * The implementation of this change primarily involves the DGFT communicating and applying the extended validity of the existing policy in its operations and interactions with stakeholders. No significant new procedures are implied. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of this amendment is to: * Provide continued stability and predictability to businesses involved in foreign trade by avoiding a policy vacuum. * Allow ongoing access to existing benefits and incentives under the FTP 2015-2020 for an additional six months. * Grant the government additional time to finalize and implement a new or revised foreign trade policy without disrupting ongoing trade activities. The potential impact of this amendment includes: * Reduced uncertainty for businesses making investment and export decisions. * Continued utilization of existing schemes and provisions under the FTP 2015-2020. **9. Conclusion:** The amendment to the Foreign Trade Policy 2015-2020, extending its validity until March 31, 2023, is a significant development. It provides much-needed continuity and stability for stakeholders involved in foreign trade. This extension allows for the continued application of existing trade regulations and benefits, while providing the government with additional time to formulate a comprehensive long-term policy. This amendment is significant for businesses to continue their import and export activities under a familiar regulatory environment.

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