New Delhi: The government has adopted a multi-pronged and integrated strategy to bolster India’s exports across all sectors, with a special focus on addressing global market challenges and supporting exporters, including MSMEs and small exporters, the Parliament was informed on Tuesday.
The strategy combines enhanced infrastructure, digital transformation, financial support, and targeted market initiatives to create a resilient and competitive export ecosystem, Minister of State for Commerce and Industry Jitin Prasada told the Lok Sabha.
In a written reply to a question in the Lok Sabha, he said that in response to recent global trade headwinds, the government is intensifying efforts through both flagship schemes and sector-specific interventions.
He pointed out that the Union Budget provides a total outlay of Rs 25,060 crore for FY 2025-26 to FY 2030-31, for a comprehensive, flexible, and digitally-driven framework for export promotion. It aims to strengthen the competitiveness of key sectors like textiles, engineering goods, pharmaceuticals, and agriculture.
The minister said that the Central government has also introduced the Credit Guarantee Scheme for Exporters (CGSE) to provide 100 per cent credit guarantee coverage by the National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions (MLIs) for extending additional credit facilities up to Rs 20,000 crore to eligible exporters, including MSMEs. It will strengthen liquidity, ensure smooth business operations, and reinforce India’s progress towards Aatmanirbhar Bharat.
The Export Credit Guarantee Corporation of India (ECGC) has introduced several measures to support exporters, including collateral-free cover to stimulate export credit among MSME exporters, who are not in a position to offer any collateral or third-party guarantee, he added.
Under the International Cooperation Scheme being implemented by the Ministry of Micro Small and Medium Enterprises, financial assistance is provided on a reimbursement basis to the eligible Central and State government organisations and industry associations to facilitate participation of MSMEs in international exhibitions, and buyer-seller meets held abroad and for organising international conferences in India with the aim of technology upgradation, modernisation and forming joint ventures.
Further, reimbursement is provided to first-time micro & small exporters for costs incurred on Registration-cum-Membership Certification (RCMC) with Export Promotion Councils (EPCs), Export Insurance Premium, and Testing & Quality Certification for export.
Bharat Trade Net (BTN), announced in the Union Budget 2025, is another flagship digital public infrastructure developed by DGFT under the Ministry of Commerce & Industry. It aims to digitise trade documents, improve access to export finance, and integrate India’s trade ecosystem with global standards, the minister observed.
Additionally, the government is proactively working to diversify India’s export basket and reduce dependency on traditional markets by identifying and facilitating entry into new and emerging global markets. Leveraging Free Trade Agreements, the government aims to promote export diversification and has signed 15 Free Trade Agreements (FTAs) and 6 Preferential Trade Agreements (PTAs) with its trading partners.
The government is working with all stakeholders to enable exporters to better utilise the benefits of India’s FTAs with major markets such as Japan, Korea and the UAE, and effectively utilise the opportunities that have been created with the recently concluded FTAs, such as with the EFTA countries and the UK. The government is also engaged in negotiations for early conclusion of FTAs with countries and groupings such as the EU, Peru, Chile, New Zealand and Oman, the minister added.
(IANS)
