Do you agree with the view that India's Foreign Trade Policу, 2023–2028 will boost country's trade surplus and generate employment? Give reasons.
India’s Foreign Trade Policy (FTP) 2023–2028 aims to boost exports, enhance competitiveness, and integrate the country into global value chains. Key schemes such as RoDTEP and Towns of Export Excellence incentivize exporters, promote diversification of products and markets, and reduce export costs. Simplification of procedures, digitalization, and facilitation of e-commerce exports improve ease of doing business, particularly benefiting MSMEs.
The District as Export Hub initiative seeks to decentralize export promotion, strengthen regional industrial clusters, and create local employment opportunities. These measures can potentially increase outbound trade, contributing to a trade surplus. However, actual outcomes depend on global demand, commodity prices, and import requirements beyond FTP’s control. Employment generation will also rely on the growth, labour-intensity, and skill requirements of the industries benefiting from export expansion.
Overall, FTP 2023–2028 is a positive and strategic step, but its success in boosting trade surplus and generating jobs depends on effective implementation, industrial responsiveness, and global economic conditions.
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