The existing FTP 2015-2020, which is valid up to September 30, 2021, is extended up to March 31, 2023. The upcoming review of the FTP policy is based on the government’s target to achieve $2 trillion in exports by the year 2030. The proposed FTP will have to factor in policy changes that can help exporters increase their profitability by focusing on T-enablement, e-commerce, R&D, and export hubs

• e-commerce, with a focus on helping the MSME sector take advantage of online platforms
• Easier credit for MSMEs by facilitating alternative credit avenues
• Digitization of trade processes country-wide to save on time and cost should also be a focus area for the trade policy. bettering the trade ecosystem. This includes simplifying administrative procedures and reducing transaction costs for businesses and governments alike.
• All operations related to exports and imports should be automated and paperless. A firm should be able to submit all information required by the government and related agencies through a Single Window. South Korea, Singapore, and many other countries have implemented such systems. An integrated single window, through which smooth and speedy clearance can be enabled without compromising on compliance, is the need of the hour.

The last points have been already part of FTP 2015 policy, however, it has lacked implementation which also should be the focus area along with the above along with many more FTAs where there has to be a significant increase in overall trade, in both exports and imports, and not imports have increased at a faster pace.