"We are hoping that (with) changes in the services architecture of incentives in the new policy, services should do better. We hope that their share will increase significantly," a top Commerce Ministry official said.
With Indian pharma companies facing problems in exports to countries like Japan and China, the new Foreign Trade Policy seeks to address issues related to non-trade barriers and regulations faced by them abroad.
The new Foreign Trade Policy unveiled today proposed setting up of a host of institutions, including Trade Council and National Committee on Trade Facilitation, to improve India's share in global trade and implement of WTO obligations.
Emphasising on the need to become more competitive in services in the global market, government on Wednesday said it is looking at 'more ideas' in the forthcoming foreign trade policy so as to increase exports.