India Launches Rs 25,060 Crore Export Promotion Mission

The Indian government has approved a Rs 25,060 crore Export Promotion Mission for six years, aiding exporters facing high US tariffs. It includes two sub-schemes, Niryat Protsahan and Niryat Disha, aiming to provide trade finance and enhance export readiness. The initiative targets sectors like textiles and engineering goods.

The Indian government, under the leadership of Information and Broadcasting Minister Ashwini Vaishnav, approved an ambitious Export Promotion Mission valued at Rs 25,060 crore over six financial years. This measure aims to mitigate the impact of steep US tariffs on Indian exports.

Structured through sub-schemes Niryat Protsahan and Niryat Disha, the initiative is set to support the complete export ecosystem. Niryat Protsahan will focus on providing affordable trade finance solutions for MSMEs, while Niryat Disha will enhance market readiness through non-financial enablers such as export quality support and international branding initiatives.

The Directorate General of Foreign Trade (DGFT) will oversee the mission's implementation via a dedicated digital platform. This mission seeks to address the ongoing structural challenges in India's export sector, potentially boosting market visibility and improving access for exporters, especially in sectors like textiles and marine products.

(With inputs from agencies.)