Mangaluru: The central government formulated new Foreign Trade Policy and it would emphasize on the manufacturing sector, said Minister of state for Commerce and Industry Nirmala Sitharaman at the BJP district office here on Saturday, January 3.

The new policy would focus on increasing the export quotient, the policy is likely to be announced during the upcoming budget session, she said.

The Most Favourite Position (MFP) to trade with Pakistan, India had signed the MFP during early 1990s, Pakistan has not yet replied to the same, she replied.

The current contribution of India to the global market is less than three percent. The economy of the country in the past six – seven years has not looked promising. Hence, the current government is looking at a positive growth which would focus on creation of jobs.

The government was true to its promise, which was the BJP’s motto during the election campaign, Nirmala Sitharaman said