Additional Secretary Amit Yadav said on Monday that the Commerce Ministry will extend the existing Foreign Trade Policy (FTP) (2015-20) for another six months till March 2023.
The current Foreign Trade Policy (FTP) was to end on 30 September.
Amit Yadav, additional secretary in the commerce department, said there had been demands from various quarters, including industry associations and export promotion councils, to expand the policy and not introduce a new policy at this juncture.
He said that at present there are challenges like global uncertainty and currency volatility.
There was also an idea to align the rollout of the new policy with the new financial year.
The Ministry of Commerce and Industry had earlier announced that it would release the new FTP by the end of this month.