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New foreign trade policy announced on Aug 31 2004 Aim doubling Indias share in global merchandise trade from .7% to 1.5% in 2009 03-04 Indias exports - $61.8 billion Growth target 10% CAGR(compounded annual growth rate) Service sector expected to contribute to export of invisibles to over $100 billion.
Emphasis on SMEs. Drawback : Bureaucracy FTP 2005-06: Not just about earning forex but also creating more jobs in line with the govts Common Minimum Program. Affirmed that export earnings will touch $150 billion in the next 4 years and add 25 lakh new jobs every year