New Delhi: Government will come out with a National Foreign Trade Policy, encompassing the Exim Policy, by July end, which could lay the roadmap for doubling exports to over $ 150 billion annually.

"The National Foreign Trade Policy will lay special emphasis on stepping up non-IT services and farm exports," Commerce and Industry Minister Kamal Nath told today (June 21, 2004).

Kamal Nath, who did not divulge any details, said the policy will be much more than the existing Exim Policy and would have medium-term perspective for pushing up trade.

The present Exim Policy mainly lays thrust on merchandise exports, which crossed $ 60 billion in 2003, and has very little to do with services exports, which accounted for at least an additional $ 25 billion annually.

Government has targeted to achieve $ 80 billion by 2007 to capture one per cent of the world trade. The National Foreign Trade Policy may include services exports as well in bid to get two per cent share of world trade, working out to $ 150 billion annually in the next few years.

The Minister said he would also hold extensive consultations with non-IT services sector representatives before formulation of the policy, expected to be announced by end of July.

He said services like clinical research and healthcare needs to be given special focus as, after IT, the country had the capability to do well in these sectors.