The Ministry of Commerce, on 1 April 2015, released the Foreign Trade Policy (FTP) for 2015-20.

The FTP 2015-20 will focus on promoting exports of value-added and labour intensive manufacturing as well as services.

The policy has done away with five export promotion schemes and  introduced two new schemes - Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS), to boost outward shipments.

The export obligation under EPCG scheme will be reduced by 25 per cent to promote domestic manufacturing.

The government has also decided to extend both, the incentive schemes for export of goods and services to units in SEZs.

The trade policy will provide a higher level of incentives for export of agriculture products and seeks to integrate with Make In India and Digital India initiatives of the government.

The five-year foreign trade policy will be reviewed after two-and-half years.

With this FTP, the government aims to increase India's exports of merchandise and services from $465.9 billion in 2013-14 to approximately $900 billion by 2019-20 and to raise India's share in world exports from two per cent to 3.5 per cent.