State elections to delay Foreign Trade Policy (FTP)

THE Foreign Trade Policy (FTP) is likely to be delayed by another month due to the forthcoming elections in Maharashtra and Haryana. "The FTP is likely to be announced only after the election process is over in the two states because of the application of the model code of conduct," said a Commerce Ministry official. According to the official, while broader contours of the FTP have been finalized, the core issue—the outlay that the Finance Ministry would sanction for various export promotion schemes—is yet to be settled. "There has been no decision on the amount of money that the Finance Ministry would give to the Commerce Ministry for the FTP," he said, adding that the issue is vital as it would help the Ministry decide how many sectors can be incentivised and to what extent.