Foreign policy for the year 2004-2009.

The foreign trade policy announced by the UPA Government in 2004 had set two objectives:

To double the percentage share of global merchandize trade within 5 years

Use trade expansion as an effective instrument of economic growth and employment generation.

Objectives of 2009-2014

1. Rehabilitation of sick units

2. To double India’s exports

3. To double India's share in global merchandise trade

4. Promote and encourage exports

5. Simplification of application procedures.

6.Boost exports from various industries

7. Accelerate economic growth

In order to meet these objectives, the Government would follow a mix of policy measures including:

Fiscal incentives Institutional changes Procedural rationalization Enhanced market access across the world Diversification of export markets.

Following are the three pillars which will support in achieving this target

Improvement in infrastructure related to exports bringing down transaction costs providing full refund of all indirect taxes and levies.