New FTP to identify new sectors with export potential

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The new Foreign Trade Policy (FTP) 2021-26 (to be out next month) is all set to identify new sectors with export potential. Along with this, it will focus on promoting micro, small and medium enterprises as well as e-commerce exports, it is learnt. There could also be greater categorisation of products into various harmonised systems of nomenclature (HSN) to check unnecessary imports and those of poor quality. The government is said to be devising an online mechanism to step up screening imports to protect domestic manufacturers, said a report.