New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the Export Promotion Mission, with an outlay of Rs 25,060 crore, to strengthen India’s export ecosystem.
The flagship initiative was announced in the Union Budget 2025–26 to strengthen India’s export competitiveness, particularly for MSMEs, first-time exporters, and labour-intensive sectors.
The Mission will provide a comprehensive, flexible, and digitally driven framework for export promotion, with a total outlay of Rs 25,060 crore for FY 2025–26 to FY 2030–31. It marks a strategic shift from multiple fragmented schemes to a single, outcome-based, and adaptive mechanism that can respond swiftly to global trade challenges and evolving exporter needs, according to an official statement.
Under the EPM, priority support will be extended to sectors impacted by recent global tariff escalations, such as textiles, leather, gems & jewellery, engineering goods, and marine products. The interventions will help sustain export orders, protect jobs, and support diversification into new geographies, the statement said.
The Mission is anchored in a collaborative framework involving the Department of Commerce, the MSME and Finance Ministries, and other key stakeholders, including financial institutions, export promotion councils, commodity boards, industry associations, and state governments, the statement said. It will operate through two integrated sub-schemes, which include ‘Niryat Protsahan’ and ‘Niryat Disha’.
‘Niryat Protsahan’ focuses on improving access to affordable trade finance for MSMEs through a range of instruments such as interest subvention, export factoring, collateral guarantees, credit cards for e-commerce exporters, and credit enhancement support for diversification into new markets.
‘Niryat Disha’ focuses on non-financial enablers that enhance market readiness and competitiveness, including export quality and compliance support, assistance for international branding, packaging, and participation in trade fairs, export warehousing and logistics, inland transport reimbursements, and trade intelligence and capacity-building initiatives.
The EPM consolidates key export support schemes such as the Interest Equalisation Scheme (IES) and Market Access Initiative (MAI), aligning them with contemporary trade needs.
It is designed to directly address structural challenges that constrain Indian exports, including limited and expensive trade finance access, high cost of compliance with international export standards and inadequate export branding and fragmented market access. Besides, it aims to help overcome logistical disadvantages for exporters in interior and low-export-intensity regions.
The Directorate General of Foreign Trade (DGFT) will act as the implementing agency, with all processes — from application to disbursal — being managed through a dedicated digital platform integrated with existing trade systems.
(IANS)
