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India's trade policy update on Thursday

business Updated: Apr 18, 2007 19:06 IST

The Commerce Minister Kamal Nath would reveal the annual update of India's foreign trade policy for 2004-09 in New Delhi on Thursday.

"All stakeholders' inputs have been taken into account in fine-tuning the elements of the annual supplement to the foreign trade policy through consultations," the commerce ministry said in a statement.

The original policy was also announced by Kamal Nath on Aug 31, 2004. It took an integrated view of the overall development of India's foreign trade with a two-fold objective - to double India's share in global merchandise trade by 2009 and act as an effective instrument of economic growth by giving a thrust to employment generation.

India's merchandise exports since the announcement of the policy have increased sharply, from $53 billion in 2003-04 to cross the landmark figure of $100 billion in 2005-06.