Explain the objectives of 'Foreign Trade Policy' under the Foreign Trade Policy for 2015-2020.

India's Foreign Trade Policy (FTP) has, conventionally, been formulated for five years at a time and reviewed annually. The focus of the FTP has been to provide a framework of rules and procedures for exports and imports and a set of incentives for promoting exports. The FTP for 2015-20 seeks to achieve the following:- 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 Skill India to create an 'Export Promotion Mission' for India; To promote the diversification of India's export by helping various sectors of the Indian economy to gain global competitiveness with a view to promote 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 product and contributing to the government's flagship "Make in India" initiative; To provide a mechanism for regular appraisal in order to rationalise imports and reduce the trade imbalance.