New Delhi: The Union Cabinet on Wednesday approved a landmark Export Promotion Mission with an outlay of Rs 25,060 crore over six financial years, starting this fiscal year. The initiative aims to help Indian exporters tackle high tariffs imposed by the United States, particularly the recent 50 percent duty on Indian goods effective from 27 August.
Mission Implementation through Two Sub-Schemes
The mission will be executed through two key sub-schemes:
- Niryat Protsahan (Rs 10,401 crore): Focuses on providing affordable trade finance for MSMEs, including interest subvention, export factoring, collateral guarantees, e-commerce credit cards, and credit enhancement for market diversification.
- Niryat Disha (Rs 14,659 crore): Provides non-financial support to exporters, such as compliance assistance, international branding, packaging support, participation in trade fairs, export warehousing, inland transport reimbursements, and trade intelligence initiatives.
Information and Broadcasting Minister Ashwini Vaishnav said the mission is comprehensive and designed to support the entire export ecosystem, from financial assistance to market readiness. Priority will be given to sectors affected by global tariff escalations, including textiles, leather, gems and jewellery, engineering goods, and marine products.
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Strengthening Market Access and Export Competitiveness
The mission seeks to address structural challenges faced by Indian exporters, such as limited access to trade finance, high compliance costs with international standards, fragmented market access, and logistical disadvantages in interior regions. By improving market readiness and export visibility, the initiative aims to enhance India’s competitiveness on the global stage.
Digital Integration and Oversight
The Directorate General of Foreign Trade (DGFT) will implement the mission through a dedicated digital platform integrated with existing trade systems, ensuring smooth application, monitoring, and disbursal processes.
Exports and Trade Deficit Context
India’s exports grew 6.74% to USD 36.38 billion in September, while imports jumped 16.6%, widening the trade deficit to USD 31.15 billion, the highest in over a year. Cumulatively, from April to September, exports increased 3.02% to USD 220.12 billion, while imports rose 4.53% to USD 375.11 billion, resulting in a trade deficit of USD 154.99 billion.
Government Focus on MSMEs and Strategic Export Growth
The Export Promotion Mission is expected to provide critical support to MSMEs, strengthen India’s trade resilience, reduce vulnerabilities to global tariff shocks, and generate new employment opportunities across export-intensive sectors.
