In view of the unprecedented situation arising out of the COVID-19 pandemic, the Directorate General of Foreign Trade (DGFT) has extended the India's Foreign Trade Policy (FTP) by another year which was ending on March 31 2020.

"The existing FTP 2015-20, which is valid up to March 31, 2020, is extended up to March 31 2021. Various other changes are also made - extending the date of exemption by one year and extending validity of DFIA and EPCG authorizations for import purposes", said a notification issued by the DGFT on Tuesday.

The existing sops will thus continue till March 31, 2021. The present policy, which came into force on April 1, 2015, had five-year validity up to March 31, 2020.

On March 28, export organisations also made a case for extension of all applicable deadlines and validities, in a video conference held by Commerce and Industry Minister Piyush Goyal to get inputs on the current situation.