India launches Rs 25,060 crore Export Promotion Mission to boost struggling sectors
India’s commerce ministry is rolling out a new Export Promotion Mission (EPM) worth Rs 25,060 crore. The scheme aims to simplify trade support by replacing multiple fragmented programmes with a single, outcome-focused system. Guidelines for the mission will be released this month.
The EPM will operate through two key sub-schemes: Niryat Protsahan and Niryat Disha. Niryat Protsahan will focus on improving access to affordable finance for small and medium businesses. It will use various financial tools to help exporters secure funding more easily.
Niryat Disha, on the other hand, will allocate funds for non-financial support. This includes measures to boost export readiness and expand market access for Indian goods.
Priority under the EPM will go to sectors hit hardest by recent global tariff increases. These include textiles, leather, gems and jewellery, engineering goods, and marine products. The move follows a sharp decline in India’s merchandise exports to the US, which fell by 8.58% to $6.3 billion in October. This drop came after the US imposed a 50% tariff on certain Indian goods starting August 27.
The EPM marks a shift towards a more streamlined approach to trade support. By addressing both financial and non-financial barriers, the mission seeks to strengthen India’s export competitiveness. The first set of guidelines will be available to businesses by the end of this month.
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