Foreign Trade Policy, Foreign Investments & Economic Development
Foreign Trade Policy, Foreign Investments & Economic Development Foreign Trade Policy (FTP), Foreign Investments, and Economic Development Foreign Trade Policy (FTP) is a critical tool for managing a country’s trade with the world. FTP sets the strategic direction for exports, imports, and the promotion of economic growth. India’s foreign investments, particularly FDIs and FIIs, also play a significant role in its development. FTP – Structural Changes during the 1990s The 1990s marked a turning point in India’s foreign trade policy. Structural changes such as the reduction of tariffs, devaluation of the Indian Rupee, and the promotion of export-oriented industries were pivotal in boosting trade. FTP Policy – 2015-2020 The FTP for 2015-2020 aimed to expand India’s global trade share with a focus on value-added products and servic...