Foreign Trade Policy 2023: Overview

India's Foreign Trade Policy (FTP) 2023 acts as a guide for the nation's international trade activities. Its main objectives include boosting the country's exports, making imports more accessible, and improving India's standing in the global marketplace. The policy places significant emphasis on areas such as digitalization, the growth of e-commerce, and integrating Indian businesses into worldwide supply chains.

Analyzing Statements on India's FTP 2023

Let's evaluate each statement to determine its accuracy concerning India's Foreign Trade Policy 2023:

• Statement A: India's FTP 2023 promotes cross border trade in digital economy. This statement is accurate. The FTP 2023 actively supports the expansion of the digital economy. It aims to facilitate trade across borders using digital methods, including enabling digital payments and the electronic exchange of trade-related documents, thereby boosting digital services trade.
• Statement B: FTP 2023 emphasized on creation of E-commerce export hubs (ECEH). This statement is accurate. A notable focus within the FTP 2023 is the initiative to establish Export Hubs for E-commerce (ECEH). These hubs are designed to centralize export capabilities from different regions, offering essential infrastructure and support services tailored for e-commerce exporters.
• Statement C: It prohibits export and import of arms and related material from/to Iraq. This statement is accurate. India's foreign trade regulations, including the FTP 2023, are formulated to comply with international mandates and national security protocols. The trade of arms and associated materials is typically restricted or entirely prohibited, especially with nations subject to international sanctions, such as Iraq, aligning with United Nations Security Council resolutions.
• Statement D: It prohibits import of charcoal from Somalia. This statement is accurate. Similar to regulations concerning sensitive goods like arms, the FTP 2023 may enforce prohibitions or restrictions on the import of specific commodities, like charcoal, from particular countries or regions. These measures are often implemented due to security concerns, environmental protection, or adherence to regulatory frameworks.
• Statement E: It emphasizes strengthening trade with Democratic People's Republic of Korea in combat aircraft, missiles and arms related materials. This statement is inaccurate. India maintains a firm stance on adhering to international sanctions, particularly those imposed by the UN Security Council against the Democratic People's Republic of Korea (DPRK) due to its nuclear activities. Promoting trade in military hardware like combat aircraft and missiles with the DPRK would contradict India's foreign policy principles and its commitment to global non-proliferation efforts. The FTP 2023 does not endorse such trade activities.

Conclusion on Correct FTP 2023 Provisions

After reviewing each statement, it is clear that statements A, B, C, and D correctly represent aspects or principles associated with India's Foreign Trade Policy 2023, including its adherence to international norms. Statement E is inconsistent with India's established foreign policy and its obligations under international law.

Consequently, the combination comprising statements A, B, C & D is the correct selection.