India's foreign trade policy to be extended till March 31, 2022

The FTP offers incentives under different schemes such as Duty Free Import Authorisation (DFIA) and Export Promotion Capital Goods (EPCG).

He hoped that by the time the latest extension of the FTP ends, issues arising out of pandemic would have been largely resolved and consultations could begin for the new FTP, according to Indian media reports.

"Since we have still not overcome the COVID issues, a lot of consultation which was expected to go in, is still continuing," he said during an event organised by the Federation of Indian Export Organisations (FIEO) in New Delhi.

India's exports were at $185 billion during the April-September 2021 period, Mr Goyal informed and expressed confidence that at this rate, the country will be able to achieve the $400 billion target earmarked for 2021-22.

ALCHEMPro News Desk (DS)