New Export Promotion Schemes Aim to Boost MSME Exporters

The government is developing new export promotion schemes for MSME exporters, focusing on easy credit, factoring services, and tackling non-tariff measures. The commerce ministry seeks feedback from EPCs while collaborating with finance ministries, aiming to support exporters with Rs 2,250 crore under the Export Promotion Mission.

The Commerce Ministry is actively developing new export promotion schemes aimed at bolstering MSME exporters. These schemes, announced in the Union Budget, are designed to provide easier access to credit, promote alternate financing instruments, and offer support in overcoming non-tariff measures.

Feedback is being sought from export promotion councils, with comments due shortly to the Directorate General of Foreign Trade (DGFT). The government, along with the commerce, MSME, and finance ministries, is engaged in crafting these new measures.

The initiatives include improved access to credit for MSMEs, factoring services to lessen bank dependency, and support services to manage non-tariff barriers. A significant outlay of Rs 2,250 crore underpins this mission, aiming to enhance India's export performance.

(With inputs from agencies.)