Foreign Trade Policy, 2023 _An Overview_BDO India

The much-awaited Foreign Trade Policy, 2023 (FTP 2023) was announced by the Ministry of Commerce & Industry and has been put into effect from 1 April 2023. The FTP 2023, replaces the earlier Foreign Trade Policy, 2015-2020, that was extended till 31 March 2023 on account of the COVID-19 pandemic and ongoing geo-political situation.

The FTP 2023 is pragmatic and futuristic and is expected to play a critical role in facilitating India's transition to an advanced developed economy in the years to come.

We at BDO in India have prepared a detailed chapter-wise summary of the key amendments announced in the FTP 2023 and Handbook of Procedures (HBP).