The correct answer is (a) 2004-2011.
The New Foreign Trade Policy (FTP) of the Government of India was announced in April 2004. It was a comprehensive policy that aimed to promote exports and foreign investment. The FTP was valid for a period of seven years, from 2004 to 2011.
The FTP had a number of key features, including:
- A focus on promoting exports of goods and services.
- A reduction in tariffs and other trade barriers.
- A simplification of export procedures.
- An increase in the number of Free Trade Agreements (FTAs) that India was a party to.
- A focus on attracting foreign direct investment (FDI).
The FTP was successful in achieving many of its objectives. India’s exports grew at an average rate of 20% per year during the period of the FTP. FDI inflows also increased significantly. The FTP also helped to improve India’s ranking in the World Bank’s Ease of Doing Business Index.
However, the FTP also faced some challenges. One challenge was that the global economic slowdown had a negative impact on India’s exports. Another challenge was that the implementation of some of the FTP’s measures was delayed.
Despite these challenges, the New Foreign Trade Policy was a success. It helped to promote exports and foreign investment, and it improved India’s ranking in the World Bank’s Ease of Doing Business Index.
The other options are incorrect because they are not the duration of the New Foreign Trade Policy of the Government of India.