As per latest announcement by Ministry of Commerce, mid-term review of Foreign Trade Policy (FTP) 2015-18 is to be released by September 2017. Earlier in one of the meetings it was proposed that it should be announced simultaneously with the roll out of GST so that Exporter-importers can get a complete synchronous system between DGFT and Customs. And so previously proposed date was 1st July 2017. However, after receiving multiple queries from Exporters regarding GST, it is decided to defer the release by at least two months. Rationale behind this decision is to allow exporters some time to get accustomed to the new GST system and be able to factor in their feedback/suggestion while amending existing FTP.

While reviewing, Ministry is expected to take into consideration current duty exemptions and export incentives with a view to preserve them in new tax regime GST. Further expansion and improvement in such schemes may be another agenda in the review.

Source: Ministry of Commerce, GoI