Govt extends Foreign Trade Policy 2015-2020 by another six months till September 2021

Govt extends Foreign Trade Policy 2015-2020 by another six months till September 2021

New Delhi, March 31, 2021

The Union Ministry of Commerce and Industry today extended the Foreign Trade Policy (FTP) of the Government of India by another six months till September 30, 2021 in view of the unprecedented situation arising out the COVID-19 pandemic.

The present FTP had come into force on April 1, 2015 and was for five years but it was extended by a year up to March 31, 2021.

"In view of the unprecedented situation arising out of the pandemic Novel COVID-19, which is persisting, the Government has decided to continue benefits under various export promotion schemes by extending existing Foreign Trade Policy by another six months i.e. up to 30th September, 2021 which will provide continuity in the policy regime. Similar extension is made in the related procedures, by extending validity of HandBook of Procedures," an official press release said.

Exemption from payment of IGST and Compensation Cess on the imports made under Advance/EPCG Authorisations and by EOUs etc. have also been extended up to 30.09.2021. Similarly, validity period of the Status Holder Certificates is also extended. This will enable the Status Holders to continue to avail the specified facilities/benefits, the release said.

A notification for extending the Foreign Trade Policy 2015-20 and a Public Notice for extending the validity of the existing Handbook of Procedures 2015-20 has been issued today, the release added.

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