The Foreign Trade Policy (FTP) 2023 that was unveiled last week, according to the Synthetic and Rayon Textiles Export Promotion Council, was pragmatist and forward-thinking.
A huge number of textile exporters from the MSME sector would be encouraged to enter the e-commerce arena, according to the head of the organisation, Bhadresh Dodhia, if the consignment-wise cap on e-commerce exports through courier of 5 lakh to 10 lakh were removed. Within a day, the FTP had introduced online and automatic approval for numerous permits.
A considerable number of textile exporters who have been unable to fulfil their export responsibilities under the EPCG and Advance Authorizations due to the pandemic and slowdown in many countries would benefit greatly from the one-time amnesty policy proposed under the FTP 2023 to address bona fide defaults. a market in the west.
