The Union Ministry of Commerce and Industry has amended the Foreign Trade Policy (FTP) 2023 to strengthen stakeholder engagement in policy formulation.

• The Directorate General of Foreign Trade (DGFT) notified the addition of Para 1.07A and 1.07B, mandating consultations with stakeholders, including importers, exporters, and industry experts, before introducing or amending trade policies.
• This amendment aims to formalise the mechanism for gathering views, suggestions, and feedback from relevant parties, enhancing transparency and inclusiveness in the decision-making process.
• Additionally, it requires the government to provide reasons for not incorporating any suggestions, ensuring accountability in policy making.