Question

Four pillars of Foreign Trade Policy 2023

i.    Incentive to remission

ii.   Export promotion through collaboration

iii. Boost to Make in India

iv. Ease of doing business

v.   Emerging Areas

• A. i, ii, iii and iv
• B. ii, iii, iv and v
• C. iii, iv, v and i
• D. i, ii, iv an

Answer 1

Answer:

D. i, ii, iv an

The Foreign Trade Policy (FTP) 2023, launched by the Ministry of Commerce and Industry, is built on 4 key pillars:

1. Incentive to Remission: Moving away from a pure incentive-based regime towards a duty remission and neutralization framework.

2. Export promotion through collaboration: Partnering with exporters, states, districts, and Indian diplomatic missions abroad.

3. Ease of doing business: Reducing transaction costs, simplifying compliance, and promoting e-initiatives (paperless processes).

4. Emerging Areas: Focusing on E-commerce exports, developing Districts as Export Hubs, and streamlining SCOMET (Special Chemicals, Organisms, Materials, Equipment, and Technologies) policies.

"Boost to Make in India" is a broader national objective supported by the policy, but it is not explicitly categorized as one of the four foundational pillars of FTP 2023.