New foreign Trade policy is expected to boost manufacturing sector tremendously

Mr. Harkirat Singh, MD Woodland commented on the announcement of new Foreign Trade policy.

"The new foreign Trade policy is expected to boost the country's manufacturing sector tremendously. The reduction in export obligation by 25% would encourage machinery import, critical for the growth of leather and the manufacturing sector in general. The focus of the foreign trade policy is to support services and exports along with improving the ease of doing business.

We also believe that the government will enhance exports, promote manufacturing exports, which have enormous potential for employment generation besides having multiplier effects. This new policy will boost export competitiveness while pushing the economic growth and generate employment.

Overall, it seems to be a visionary policy; the prominent features of this five-year policy is that it is a positive, industry friendly and forward-looking policy; that is expected to aggressively push the government's make-in-India vision."

Source : Equity Bulls

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