India Unveils Strategic Export Promotion Mission to Boost Global Competitiveness

India launches Export Promotion Mission to amplify 'Made in India' globally. The initiative champions MSMEs and labor-intensive sectors with a Rs 25,060 crore outlay for 2025-31, unifying fragmented schemes into a digitally driven framework. Collaborative efforts aim to enhance export capabilities, market accessibility, and trade finance support.

Prime Minister Narendra Modi on Thursday commended the Union Cabinet's nod for the Export Promotion Mission (EPM), a strategic move designed to bolster India's standing in the global export market. The initiative, part of the Union Budget 2025-26, focuses on enhancing the export competitiveness of micro, small, and medium enterprises (MSMEs), as well as first-time exporters and labor-intensive sectors.

The EPM, with an allocation of Rs 25,060 crore spanning FY 2025-26 to FY 2030-31, signifies a significant shift from disjointed export schemes to a cohesive, adaptable strategy that can swiftly address global trade dynamics. The mission seeks to establish a comprehensive, digital approach to export promotion, uniting key players including the Department of Commerce, Ministry of MSME, Ministry of Finance, financial institutions, and export councils.

By integrating existing schemes like the Interest Equalisation Scheme and Market Access Initiative, EPM aims to tackle structural barriers faced by Indian exports, such as costly trade finance and compliance challenges. With an eye on sectors vulnerable to tariff hikes, it promises to sustain export orders and jobs. The Directorate General of Foreign Trade (DGFT) will oversee the digital management of processes, ensuring streamlined support for India's ambition to become a dominant force in international trade.

(With inputs from agencies.)