{"id":35610,"date":"2024-03-27T09:27:20","date_gmt":"2024-03-27T09:27:20","guid":{"rendered":"https:\/\/edukemy.com\/blog\/?p=35610"},"modified":"2024-03-27T09:27:21","modified_gmt":"2024-03-27T09:27:21","slug":"foreign-trade-policy-2015-20-and-key-measures-upsc-economy-notes","status":"publish","type":"post","link":"https:\/\/edukemy.com\/blog\/foreign-trade-policy-2015-20-and-key-measures-upsc-economy-notes\/","title":{"rendered":"Foreign Trade Policy 2015-20 and Key Measures &#8211; UPSC Economy Notes"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/edukemy.com\/upsc\/upsc-economy?utm_source=Blog&amp;utm_medium=Banner&amp;utm_campaign=Blog+Economy\" target=\"_blank\" rel=\"noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1280\" height=\"300\" src=\"https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/17.png\" alt=\"\" class=\"wp-image-42386\" srcset=\"https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/17.png 1280w, https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/17-1170x274.png 1170w, https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/17-585x137.png 585w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/a><\/figure>\n\n\n\n<p><strong>Objective:<\/strong> The Foreign Trade Policy (FTP) 2015-20, along with its mid-term review in 2017, was implemented to enhance India&#8217;s exports. It aligns with broader initiatives such as Make in India, Digital India, Skill India, Start-up India, and Ease of Doing Business.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-69d2f35e3c297\" class=\"ez-toc-cssicon-toggle-label\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d2f35e3c297\"  \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edukemy.com\/blog\/foreign-trade-policy-2015-20-and-key-measures-upsc-economy-notes\/#Key_Measures\" title=\"Key Measures:\">Key Measures:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edukemy.com\/blog\/foreign-trade-policy-2015-20-and-key-measures-upsc-economy-notes\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edukemy.com\/blog\/foreign-trade-policy-2015-20-and-key-measures-upsc-economy-notes\/#Q_What_is_the_Foreign_Trade_Policy_2015-20\" title=\"Q: What is the Foreign Trade Policy 2015-20?\">Q: What is the Foreign Trade Policy 2015-20?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/edukemy.com\/blog\/foreign-trade-policy-2015-20-and-key-measures-upsc-economy-notes\/#Q_What_are_the_key_objectives_of_the_Foreign_Trade_Policy_2015-20\" title=\"Q: What are the key objectives of the Foreign Trade Policy 2015-20?\">Q: What are the key objectives of the Foreign Trade Policy 2015-20?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/edukemy.com\/blog\/foreign-trade-policy-2015-20-and-key-measures-upsc-economy-notes\/#Q_What_are_some_of_the_key_measures_introduced_under_the_Foreign_Trade_Policy_2015-20\" title=\"Q: What are some of the key measures introduced under the Foreign Trade Policy 2015-20?\">Q: What are some of the key measures introduced under the Foreign Trade Policy 2015-20?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/edukemy.com\/blog\/foreign-trade-policy-2015-20-and-key-measures-upsc-economy-notes\/#Q_How_does_the_Foreign_Trade_Policy_2015-20_contribute_to_promoting_sustainable_development\" title=\"Q: How does the Foreign Trade Policy 2015-20 contribute to promoting sustainable development?\">Q: How does the Foreign Trade Policy 2015-20 contribute to promoting sustainable development?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/edukemy.com\/blog\/foreign-trade-policy-2015-20-and-key-measures-upsc-economy-notes\/#Q_How_does_the_Foreign_Trade_Policy_2015-20_address_challenges_faced_by_small_and_medium-sized_enterprises_SMEs_in_international_trade\" title=\"Q: How does the Foreign Trade Policy 2015-20 address challenges faced by small and medium-sized enterprises (SMEs) in international trade?\">Q: How does the Foreign Trade Policy 2015-20 address challenges faced by small and medium-sized enterprises (SMEs) in international trade?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/edukemy.com\/blog\/foreign-trade-policy-2015-20-and-key-measures-upsc-economy-notes\/#In_case_you_still_have_your_doubts_contact_us_on_9811333901\" title=\"In case you still have your doubts, contact us on 9811333901.&nbsp;\">In case you still have your doubts, contact us on 9811333901.&nbsp;<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/edukemy.com\/blog\/foreign-trade-policy-2015-20-and-key-measures-upsc-economy-notes\/#Visit_our_YouTube_Channel_%E2%80%93_here\" title=\"Visit our YouTube Channel &#8211;&nbsp;here\">Visit our YouTube Channel &#8211;&nbsp;here<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Measures\"><\/span><strong>Key Measures:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Framework for Export Promotion:<\/strong><ul><li>FTP 2015-20 provides a comprehensive framework to increase exports of goods and services, generate employment, and promote value addition in the country.<\/li><li>Aligns with national initiatives to strengthen the Indian economy.<\/li><\/ul><\/li><li><strong>Response to External Challenges:<\/strong><ul><li>Aims to enable India to respond effectively to challenges in the rapidly evolving international trading architecture.<\/li><\/ul><\/li><li><strong>Export Promotion Schemes:<\/strong><ul><li>Introduces schemes and incentives to promote exports and provides duty remission\/exemption on inputs for export production.<\/li><\/ul><\/li><li><strong>New Schemes Introduced:<\/strong><ul><li><strong>Merchandise Exports from India Scheme (MEIS):<\/strong><ul><li>Focuses on improving the export of specified goods by consolidating earlier schemes for better coherence.<\/li><\/ul><\/li><li><strong>Services Exports from India Scheme (SEIS):<\/strong><ul><li>Aims to boost the export of notified services.<\/li><\/ul><\/li><\/ul><\/li><li><strong>Niryat Bandhu Scheme:<\/strong><ul><li>Galvanized and repositioned to align with Skill India and trade promotion objectives.<\/li><li>Originally introduced in 2011 for first-generation entrepreneurs in international business enterprises.<\/li><li>Involves mentorship by Niryat Bandhu officers for individuals entering foreign trade.<\/li><\/ul><\/li><li><strong>Trade Facilitation and Ease of Doing Business:<\/strong><ul><li>Emphasizes trade facilitation and measures to enhance the ease of doing business.<\/li><li>Introduction of paperless work and ratification of the WTO Agreement on Trade Facilitation (TFA) in 2016.<\/li><\/ul><\/li><li><strong>Trade Infrastructure for Export Scheme (TIES):<\/strong><ul><li>Launched in 2017 to address export infrastructure gaps in the country.<\/li><li>Aims to enhance and strengthen the infrastructure supporting export activities.<\/li><\/ul><\/li><\/ol>\n\n\n\n<p>These measures collectively contribute to creating a conducive environment for exporters, fostering economic growth, and enhancing India&#8217;s presence in the global trade arena. The policy reflects a commitment to aligning trade initiatives with broader national development goals.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_What_is_the_Foreign_Trade_Policy_2015-20\"><\/span>Q: <strong>What is the Foreign Trade Policy 2015-20?<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Foreign Trade Policy (FTP) 2015-20 is a comprehensive policy framework formulated by the Government of India to promote trade and enhance the country&#8217;s exports. It outlines various measures and incentives to facilitate foreign trade operations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_What_are_the_key_objectives_of_the_Foreign_Trade_Policy_2015-20\"><\/span>Q: <strong>What are the key objectives of the Foreign Trade Policy 2015-20?<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The primary objectives of the Foreign Trade Policy 2015-20 are:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Boosting India&#8217;s exports to strengthen its position in the global market.<\/li><li>Promoting trade diversification and enhancing competitiveness.<\/li><li>Facilitating ease of doing business for exporters and importers.<\/li><li>Encouraging foreign investment inflow and fostering economic growth.<\/li><li>Introducing measures for sustainable development and inclusive growth.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_What_are_some_of_the_key_measures_introduced_under_the_Foreign_Trade_Policy_2015-20\"><\/span>Q: <strong>What are some of the key measures introduced under the Foreign Trade Policy 2015-20?<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Key measures under the FTP 2015-20 include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS) to provide exporters with financial incentives.<\/li><li>Focus Product Scheme (FPS) and Market Linked Focus Product Scheme (MLFPS) to incentivize exports of specific products to designated markets.<\/li><li>Export Promotion Capital Goods (EPCG) scheme to facilitate import of capital goods for pre-production, production, and post-production at zero or concessional customs duty.<\/li><li>Advance Authorization Scheme for duty-free import of inputs for export production.<\/li><li>Simplification and digitization of export-import procedures through initiatives like Single Window Interface for Facilitating Trade (SWIFT) and Electronic Data Interchange (EDI).<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_How_does_the_Foreign_Trade_Policy_2015-20_contribute_to_promoting_sustainable_development\"><\/span>Q: <strong>How does the Foreign Trade Policy 2015-20 contribute to promoting sustainable development?<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The FTP 2015-20 emphasizes sustainable development by encouraging exports of eco-friendly and renewable energy products through various incentives and schemes. It also promotes trade in goods and services that comply with international environmental standards and norms.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_How_does_the_Foreign_Trade_Policy_2015-20_address_challenges_faced_by_small_and_medium-sized_enterprises_SMEs_in_international_trade\"><\/span>Q: <strong>How does the Foreign Trade Policy 2015-20 address challenges faced by small and medium-sized enterprises (SMEs) in international trade?<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The FTP 2015-20 includes measures specifically aimed at supporting SMEs, such as simplifying export procedures, providing easier access to credit and finance, offering export incentives through schemes like MEIS and SEIS, and facilitating participation in international trade fairs and exhibitions through financial assistance. These initiatives aim to enhance the competitiveness of SMEs in the global market and integrate them into the global value chain.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/edukemy.com\/upsc\/upsc-essay?utm_source=Blog&amp;utm_medium=Banner&amp;utm_campaign=Essay\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" data-src=\"https:\/\/edukemy.com\/blog\/wp-content\/uploads\/2024\/06\/UPSC-Essay-Course-1280\u00d7300-1-3.svg\" alt=\"\" class=\"wp-image-42688 lazyload\" width=\"781\" height=\"182\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 781px; --smush-placeholder-aspect-ratio: 781\/182;\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"block-c6ab63ae-7083-4831-b519-cb89dacafb18\"><span class=\"ez-toc-section\" id=\"In_case_you_still_have_your_doubts_contact_us_on_9811333901\"><\/span><strong>In case you still have your doubts, contact us on 9811333901.<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"block-52c5a91b-6ed6-46e3-b781-7cc0c63a0b76\">For UPSC Prelims Resources,&nbsp;<a href=\"https:\/\/edukemy.com\/upsc-cse-prelims-resource-centre\" target=\"_blank\" rel=\"noreferrer noopener\">Click here<\/a><\/p>\n\n\n\n<p id=\"block-d014fe86-d628-49d8-82ce-6c60dc6e7a73\">For Daily Updates and Study Material:<\/p>\n\n\n\n<p id=\"block-38177954-e668-4d8d-b250-d0fbd5a09390\">Join our Telegram Channel &#8211;&nbsp;<a href=\"https:\/\/t.me\/WithEdukemy4IAS\" target=\"_blank\" rel=\"noreferrer noopener\">Edukemy for IAS<\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\" id=\"block-49ca2fe3-109f-4a88-b72e-9df49c3d328e\"><li>1. Learn through Videos &#8211;&nbsp;<a href=\"https:\/\/bit.ly\/3vOD8sU\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><li>2. Be Exam Ready by Practicing Daily MCQs &#8211;&nbsp;<a href=\"https:\/\/bit.ly\/3Q9z2nF\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><li>3. Daily Newsletter &#8211; Get all your Current Affairs Covered &#8211;&nbsp;<a href=\"https:\/\/bit.ly\/3bE2y5J\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><li>4. Mains Answer Writing Practice &#8211;&nbsp;<a href=\"https:\/\/bit.ly\/3mZuVxl\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"block-43ccddc1-5348-445f-ab6b-7baaf29fe58d\"><span class=\"ez-toc-section\" id=\"Visit_our_YouTube_Channel_%E2%80%93_here\"><\/span>Visit our YouTube Channel &#8211;&nbsp;<a href=\"https:\/\/www.youtube.com\/@EduKemyforIAS\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>The Foreign Trade Policy (FTP) 2015-20, along with its mid-term review in 2017, was implemented to enhance India&#8217;s exports. <\/p>\n","protected":false},"author":17,"featured_media":35614,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[209],"tags":[235,2817,232,213,140],"class_list":["post-35610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-notes","tag-economy-notes","tag-foreign-trade-policy","tag-upsc","tag-upsc-notes","tag-upsc_preparation_strategy"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts\/35610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/comments?post=35610"}],"version-history":[{"count":1,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts\/35610\/revisions"}],"predecessor-version":[{"id":35615,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/posts\/35610\/revisions\/35615"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/media\/35614"}],"wp:attachment":[{"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/media?parent=35610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/categories?post=35610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edukemy.com\/blog\/wp-json\/wp\/v2\/tags?post=35610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}