SME Times News Bureau | 30 Nov, 2014
The new Foreign Trade Policy (FTP) that is on the anvil will
unveil trade facilitation measures, simplify procedures, reduce the interface
between bureaucrats and industry for ease of doing business and make the system
transparent, an official said Saturday.
"It would encourage exploration of new markets and product diversification
for export. The Indian government recognizes the importance of trade for growth
of economy and the new FTP would be dovetailed with the long term vision of the
government," said Director General, Foreign Trade Pravir Kumar at a round
table on 'India's Foreign Trade Policy' organized by Federation of Indian
Chamber of Commerce and Industry (FICCI), CUTS International and IPE Global
Ltd.
The underlying philosophy of the FTP is to provide an effective and transparent
framework that gives impetus to export and import, Kumar said, assuring trade
and industry that the new FTP was being formulated only after extensive
stakeholder consultations and to the extent possible include recommendations of
the industry.
He also urged the industry to focus on "how" instead of
"what" and "why" when it came to increasing trade in the
country. The targets are well-known, now it was time to create an effective way
forward, he added.