Source: ET
Subject: Economy/ Government Scheme
Context: Union Commerce and Industry Minister launched seven new interventions under the Export Promotion Mission (EPM) to strengthen MSME exports and global competitiveness.
About Export Promotion Mission:
What it is?
- The Export Promotion Mission (EPM) is a flagship initiative of the Department of Commerce aimed at empowering Micro, Small and Medium Enterprises (MSMEs) to participate effectively in global trade.
- It adopts a holistic ecosystem approach by combining financial assistance, trade facilitation and export infrastructure support to boost India’s exports.
Implementing Agencies: The Mission is implemented by the Department of Commerce.
Aim:
- To enhance global market access and export competitiveness of Indian MSMEs.
- To reduce structural barriers such as high cost of capital, logistics disadvantages and compliance challenges.
- To promote inclusive, broad-based export growth aligned with India’s global trade ambitions.
Key Features:
- Dual framework – Niryat Protsahan & Niryat Disha: Combines financial enablers with trade ecosystem support under a digitally monitored system.
- Trade Finance Support: Includes export factoring, e-commerce credit facilities, interest subvention (2.75%) and credit guarantees for MSMEs.
- Compliance & Certification Support (TRACE): Partial reimbursement for testing, inspection and certification to meet international standards.
- Logistics & Overseas Warehousing (FLOW & LIFT): Support for overseas warehousing, e-commerce export hubs and freight cost reimbursement.
- Trade Intelligence & Capacity Building (INSIGHT): Strengthens district-level export hubs and market intelligence systems.
- MSME-focused Financial Assistance: Credit support up to ₹5 crore, interest subvention, and guarantee coverage for digital exporters.
- Market Integration: Supports initiatives like Bharat Mart in Dubai to connect exporters with GCC, Africa and European markets.
Significance:
- Strengthens MSMEs as drivers of India’s export-led growth.
- Improves access to global markets through FTAs and trade facilitation.
