The step will help SME sectors take advantage of government schemes, further pushing e-commerce exports and boosting overall export growth from the country to achieve the target of USD 1 trillion merchandise exports by 2030.
India's ambitions to become a major world power will depend on its ability to integrate into global value chains and deliver on its economic growth potential.
Foxconn: This was a huge disappointment. Getting some semiconductor fabrication to happen onshore was a crucial part of India’s plans to create a homegrown, end-to-end electronics manufacturing supply chain. Those plans, it turns out, may have been both too ambitious and not ambitious enough.
The Directorate General of Foreign Trade (DGFT) on Friday said that there is no end date to the new foreign trade policy, it will be updated as and when required.
Commerce Secretary Sunil Barthwal said India is ready to trade in Indan Rupee with countries which are facing currency failure or have dollar shortage.