Source: News on Air
Subject: Government Scheme
Context: The Reserve Bank of India (RBI) has issued operational guidelines for extending interest subvention on export credit under Niryat Protsahan, bringing exporters under the Export Promotion Mission (EPM).
About Export Promotion Mission (EPM):
What it is?
- The Export Promotion Mission (EPM) is a mission-mode, unified national framework to strengthen India’s export competitiveness by integrating financial support, market access, compliance readiness, and digital governance for exporters.
Established in: Union Budget 2025–26
Mission period: FY 2025–26 to FY 2030–31
Implemented by: Directorate General of Foreign Trade (DGFT) as the nodal implementing agency
Aim:
- To boost India’s export competitiveness, especially for MSMEs, first-time exporters, labour-intensive sectors, and non-traditional districts, by ensuring affordable trade finance and global market readiness.
Key features:
- Unified mission architecture: Merges multiple fragmented export-support schemes into a single, outcome-linked and digitally driven framework.
- Two integrated sub-schemes:
- Niryat Protsahan (Financial enablers): Interest subvention on pre/post-shipment credit, export factoring, deep-tier financing, collateral support, e-commerce exporter credit cards.
- Niryat Disha (Non-financial enablers): Quality certification, branding, trade fairs, logistics & warehousing support, inland transport reimbursement, cluster and district capacity building.
- Interest subvention under Niryat Protsahan: RBI-guided interest support on export credit, strictly for eligible exporters, routed through banks and financial institutions.
- Credit guarantee support: ₹20,000 crore Credit Guarantee Scheme for Exporters (CGSE) via NCGTC, providing 100% government-backed collateral-free credit.
- Digital implementation: End-to-end DGFT digital platform aligned with customs and trade systems for transparent, paperless processing.
- RBI regulatory support: Extended export credit tenure, moratoriums, asset-classification forbearance, FEMA relaxations on export realisation.
- Sectoral & regional focus: Priority to textiles, leather, gems & jewellery, engineering goods, marine products, and interior/low-export districts.
