“In recent days, exporters and industry bodies have strongly urged the government that in view of the prevailing, volatile global economic and geo-political situation, it would be advisable to extend the current policy for some time and undertake more consultations before coming out with the new policy,” the ministry said in a media release.

In March this year, the government had extended the FTP 2015-20 till September 2022.

The present policy came into force on April 1, 2015. It offers incentives under different schemes such as Duty-Free Import Authorisation (DFIA) and Export Promotion Capital Goods (EPCG).

Fibre2Fashion News Desk (KD)