Govt Approves ₹25,060 Crore Export Promotion Mission to Boost Exports

In a major push to strengthen India’s global trade presence, the Union Cabinet has approved the Export Promotion Mission with a ₹25,060 crore budget for six years. The initiative aims to enhance export competitiveness, support key industries, and boost employment, aligning with the Aatmanirbhar Bharat (Self-Reliant India) vision.

Key Features of the Export Promotion Mission

1. Financial Support for Exporters

• A ₹25,060 crore fund will provide financial assistance, infrastructure upgrades, and tech advancements for export-driven sectors.

2. Focus on High-Growth Sectors

• Priority given to textiles, electronics, pharmaceuticals, engineering goods, and agriculture.
• Special support for MSMEs, which contribute significantly to India’s exports.

3. Infrastructure & Logistics Upgrade

• Funds allocated for modernizing ports, logistics, and digital trade systems to reduce delays.

4. Global Market Expansion

• Aggressive international branding, trade fair participation, and buyer-seller meets to promote Indian exports.

5. Ease of Doing Business for Exporters

• Simplified regulations, faster customs clearance, and incentives to reduce compliance burdens.

Why This Scheme Matters

India’s exports have faced challenges due to global slowdowns, supply chain disruptions, and geopolitical tensions. The new mission aims to:
– Increase India’s global export share (currently 1.6%).
– Generate employment, especially in MSMEs and manufacturing.
– Reduce trade deficit and strengthen the rupee.
– Encourage innovation and global-standard quality.

Industry Reactions

• FIEO President Ashwani Kumar: “A game-changer for MSME exporters.”
• CII DG Chandrajit Banerjee: “Boosts export competitiveness.”
• Trade analyst Priya Menon warns: “Success depends on efficient fund allocation.”

What’s Next?

• Detailed guidelines on eligibility and application process expected soon.
• If executed well, this mission could position India as a global trade leader.

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