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Will soon come out with mid-term review of FTP, says Suresh Prabhu
Nov 14, 2017

The mid-term review of the foreign trade policy (FTP), aimed at promoting exports, will be released soon, Commerce and Industry Minister Suresh Prabhu said today.
 
 He said the commerce ministry is working on country specific strategy for exports. Very soon, we will come out with a mid-term review of our foreign trade policy, he said here at the inauguration of 37th India International Trade Fair (IITF). 
 
He said promotion of international trade would help boost the country’s economic growth. We would like to increase our exports but also would not discourage imports. We will like to have an international trade as a thrust for developing India’s GDP and economy, he added.
 
 
The five-year foreign trade policy (2015-20) provides a framework for boosting exports of goods and services besides creation of employment and increasing value addition. The minister also informed that the redevelopment plan of the Pragati Maidan is underway and within two years, a world class facility will be developed for convention and exhibitions.
 
 Talking to reporters, he said the ministry is helping exporters in resolution of issues related with Goods and Services Tax (GST). Inaugurating the ‘Startup India Standup India’ pavilion, he said start-up India is a reality now and over 20,000 startups are there in India.
 
The minister stated that he has asked SIDBI officials to look at funding issues being faced by young entrepreneurs. I have told them that there should be no problems of funds,he said, adding that the ministry will soon be organising a round-table for starts-ups with the help of International Finance Corporation. We will be inviting all big VCs. We are calling angle investors, he said. Speaking at the inauguration of IITF, Jaharkhand’s Urban Development Minister C P Singh said the state is taking steps to improve ease of doing business.
    

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