What are the basic objectives of Present Foreign Trade Policy? Explain.

The basic objectives of India's Foreign Trade Policy (FTP) are as under: To provide a stable and sustainable policy environment for foreign trade in merchandise and services To link rules, procedures and incentives for exports and imports with other initiatives such as "Make in India", "Digital India" and "Skills India" to create an "Export Promotion Mission" for India To promote the diversification of India's export basket by helping various sectors of the Indian economy to gain global competitiveness with a view to promoting exports To create an architecture for India's global trade engagement with a view to expanding its markets and better integrating with major regions, thereby increasing the demand for India's products and contributing to the government's flagship "Make in India" initiative To provide a mechanism for regular appraisal in order to rationalize imports and reduce the trade imbalance.