Exim Policy, also known as the Foreign Trade Policy is announced every 5 years by Ministry of Commerce and Industry, Government of India. It is updated every year on the 31st of March and all the amendments and improvements in the scheme are effective from the 1st of April. Exim policy deals in general provisions pertaining to exports and imports, promotional measures, duty exemption schemes, export promotion schemes, special economic zone programs and other details for different sectors. The Government announces a supplement to this policy each year. The Government of India also releases the Hand Book of Procedures detailing the procedures to be followed for each of the schemes mentioned in the Exim Policy.