{"id":99236,"date":"2023-04-05T15:00:00","date_gmt":"2023-04-05T09:30:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=99236"},"modified":"2023-04-05T14:57:14","modified_gmt":"2023-04-05T09:27:14","slug":"biz-foreign-trade","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-foreign-trade\/","title":{"rendered":"Foreign trade policy to boost business sentiment: Industry bodies"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4182106535\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The Foreign Trade Policy (FTP) for 2023 announced recently will further boost business sentiments to reach the aspirational target of India becoming a leader in exports, leading industry bodies said.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1747489832\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Chairman of CII national committee on exports and imports Sanjay Budhia said that reduction in export performance threshold in the new FTP will enable exporters to achieve reduction in transaction costs for outbound cargo.<\/p><p>He said the policy has a strong emphasis on reduction in transaction costs, which will give a fillip to the MSMEs and also internationalisation of the Indian rupee.<\/p><p>He said reduction in user charges for MSMEs under the Advance Authorisation and Export Promotion Capital Goods Scheme will encourage the segment. The increased focus on partnering states and districts will also help in building competitiveness of small and medium units.<\/p><div class=\"trade-content_5\" id=\"trade-876567323\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Budhia added that the introduction of one-time amnesty scheme for default in export obligation (EO) is a welcome step at reducing litigations.<\/p><p>India&#8217;s exports of goods and services have already reached USD 760 billion amid global headwinds at the end of 2022-23 fiscal.<\/p><p>According to him, IMF had projected global economy to slow down in 2023, India stands in a sweet spot from the exports point of view.<\/p><p>Chairman of Engineering Export Promotion Council (EEPC) Arun Kumar Garodia said that the FTP for 2023 is pragmatic and positive which will promote exports of merchandise and services while helping the MSMEs to become a part of the global value chain and also make the Indian rupee go global.<\/p><p>The policy also focuses on new areas like e-commerce and green energy, which have huge export potential, he said.<\/p><p>Garodia also said relief has been provided to exporters who are unable to fulfil EO against export promotion capital goods and advance authorisations. PTI dc RG<\/p><div class=\"trade-content-10\" id=\"trade-2846546324\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-4290195525\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The Foreign Trade Policy (FTP) for 2023 announced recently will further boost business sentiments to reach the aspirational target of India becoming a leader in exports, leading industry bodies said. Chairman of CII national committee on exports and imports Sanjay Budhia said that reduction in export performance threshold in the new FTP will enable exporters [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":98598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-99236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Foreign trade policy to boost business sentiment: Industry bodies - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The Foreign Trade Policy (FTP) for 2023 announced recently will further boost business sentiments to reach the aspirational target of India becoming a leader in exports, leading industry bodies said.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-foreign-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign trade policy to boost business sentiment: Industry bodies\" \/>\n<meta property=\"og:description\" content=\"The Foreign Trade Policy (FTP) for 2023 announced recently will further boost business sentiments to reach the aspirational target of India becoming a leader in exports, leading industry bodies said.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-foreign-trade\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-05T09:30:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/export-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/export-cover-image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-foreign-trade\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-foreign-trade\/\",\"name\":\"Foreign trade policy to boost business sentiment: Industry bodies - 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