What is the objective of FTP?
The main objective of FTP is to promote India's exports of goods and services. It aims to achieve higher export growth, generating more foreign exchange, jobs, and industrial growth and contributing to the overall economy.
What are the key strategies of FTP?
The key strategies include providing incentives and subsidies to exporters, infrastructure development, technology upgradation, ease of doing business reforms, focusing on labour-intensive sectors, diversifying the export basket and promoting the services sector.
What are the advantages of FTP?
The advantages are higher export growth, more jobs, industrial growth, improved balance of payments, technology development, competition and efficiency gains, infrastructure development and overall economic growth.
What are the disadvantages of FTP?
The disadvantages are vulnerability to global risks, higher import dependence, a threat from cheap imports, job losses in some sectors, strain on government finances, environmental costs and regional imbalances in gains.
What are the limitations of FTP?
The key limitations are vulnerability to global uncertainties, slow export diversification, infrastructure bottlenecks, inadequate R&D and technology, bureaucratic hurdles and high input costs within India.
What changes have been made recently in FTP?
Recent changes include a greater focus on services exports, boosting 'Make in India', ease of doing business reforms, infrastructure development, promoting MSME exports, diversifying export basket and liberalizing FDI policies.
