Government will come out with a new Foreign Trade Policy, 2104-19 within the next two three months to increase the exports activities of the country.Showcasing the government performance at a press conference in New Delhi, Commerce and Industry Minister Nirmala Sitharaman said that this time the the trade policy will be different from the previous one and the government has initiated various steps to improve it. Minister has also raised serious concern on the trade deficit with the China. On a query, she said, government will insist upon China to set up manufacturing units to increase the economic activity for reducing the trade deficit. Commerce Minister hoped that there will be major change in India-China free trade relations and matter will be discussed during the visit of Chinese President Xi Jinping who is likely to make his first state visit to India next week On the issue of WTO Commerce and Industry Minister Nirmala Sitharaman said that negotiations are on to find a permanent solution to India's food stockpiling. She said, WTO member countries would understand India's position on food stockpiling , which is meant for public distribution system in the country. She said government is mulling dual usage of Special Economic Zones land, to help developers earn faster returns. Government will start online application process for SEZ developers in the end of next month. Commerce Minister also said that the government is not considering an immediate cut in the gold import duty despite the current account deficit narrowing .
News On AIR | September 10, 2014 9:12 PM
Govt to announce new Foreign Trade Policy soon