Boosting Exports: Government's New Schemes Underway

The Indian government is finalizing new schemes for its Export Promotion Mission, as announced in the Union Budget 2025-26. Inter-ministerial consultations are underway to detail these schemes, focusing on credit access, cross-border factoring, and helping MSMEs tackle non-tariff barriers.

The Indian government is gearing up for a significant boost in its export sector, with an inter-ministerial consultation on the horizon aimed at finalizing schemes under the Export Promotion Mission. Announced in the Union Budget for 2025-26, this initiative is set to change the landscape for Indian exporters.

According to Santosh Kumar Sarangi, Director General of Foreign Trade, the commerce, MSME, and finance ministries are collaboratively crafting these schemes. Once these plans are formulated, the ministry will seek union cabinet approval to move forward.

The mission, with a proposed outlay of Rs 2,250 crore, aims to facilitate exporters with easier credit access and cross-border support, particularly aiding MSMEs in overcoming non-tariff measures in international markets. With an emphasis on exploring new markets, products, and exporters, the mission is expected to drive the country's outbound shipments significantly.