The Foreign Trade Policy (FTP) 2023 of India represents a strategic attempt to reposition the country’s international trade architecture in an increasingly competitive global environment. The policy underscores the government’s commitment to enhancing export competitiveness, diversifying markets, and integrating Indian enterprises into global value chains. One of the most notable features of FTP 2023 is the continuation and expansion of export incentives under the Remission of Duties and Taxes on Exported Products (RoDTEP) and the Service Exports from India Scheme (SEIS). These schemes aim to neutralize the incidence of embedded taxes and levies, thereby lowering the cost of Indian exports. This is expected to improve the price competitiveness of Indian goods and services in international markets, particularly in sectors such as textiles, leather, and engineering goods that face stiff competition from countries like Vietnam, Bangladesh, and China. Another key feature of the policy is the focus on export diversification through the Export Promotion Capital Goods (EPCG) Scheme. FTP 2023 has simplified procedures and extended benefits of the EPCG scheme, allowing duty-free import of capital goods for production of export goods. By facilitating advanced technology acquisition and modernization of domestic manufacturing, this measure has the