Source: ET
Context: The Government of India is preparing to launch a ₹2,250 crore Export Promotion Mission to safeguard Indian industries from global trade shocks, including recent US tariff hikes.
About New Export Promotion Mission:
What it is?
A comprehensive government initiative to enhance India’s export resilience by providing financial support, market diversification, and global branding opportunities for Indian industries, particularly MSMEs.
Background:
- Announced in the Union Budget on 1 February 2025 with an outlay of ₹2,250 crore.
- Directorate General of Foreign Trade (DGFT) presented the mission to export councils.
- Developed in response to high US tariffs (50%) on Indian goods, impacting sectors like textiles, chemicals, leather, and footwear.
Nodal Ministry: Ministry of Commerce and Industry, Government of India.
Aim:
- Shield Indian exports from global market volatility and protectionist measures.
- Expand India’s footprint in new markets and strengthen supply chains.
- Enhance competitiveness of MSMEs and e-commerce exporters.
Key Features:
- Two Broad Components:
- NIRYAT PROTSAHAN – Trade Finance Support for exporters.
- NIRYAT DISHA – Driving International Holistic Market Access.
- Financial Support: Easy credit schemes for MSMEs and e-commerce exporters.
- Market Expansion: Assistance for exploring untapped markets and product diversification.
- Overseas Warehousing: Facilitation of storage facilities abroad to improve supply efficiency.
- Global Branding: International promotion campaigns for Indian goods.
- Ease of Doing Business: Simplification of trade procedures and GST rationalisation.
