Foreign Trade Policy

1495 words 6 pages
”Critical analysis of new Foreign Trade Policy 2009-14 of Govt. of India”

The Foreign Trade Policy 2009-14 of the Govt. of India is a “holistic strategy, driving export growth to new markets and addressing issues of labour-intensive export and intensive export and transaction cost effectively.”

On trade climate and export target

The world has not witnessed in the last seven decades a situation as it has been in recent years and it is very important that the Government steps in the act as a facilitator to intensive exporters to get them out of what we may call the tsunami.

Objectives of last 2 policies of Foreign Trade of Govt. of India

1) 2004-2009

The last 5 years (2004-09) FTP was released on 1st September in the year 2004.
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These three main markets together account for 70% of the country’s exports and these are the worst hit by the biggest financial crisis. Naturally any slowdown in these economies will impact Indian exports.
There were no signs as yet of revival of economies of European Union and North America.

Indian exporters are now looking for newer markets beyond North America, European Union and Japan to tackle slowdown. Identified 26 such new markets for trade. These include 16 in Latin/ South America and 10 in Asia & Oceania.

Oceania (sometimes Oceanica) is a geographical, region consisting of numerous lands—mostly islands in the Pacific Ocean and vicinity- comprising Australia and approximate Pacific islands( like such as New Zealand and New Guinea, and part of Maritime Southeast Asia.

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