India's Export Mission Faces Major Hurdles Despite Ambitious Cabinet Approval

The Global Trade Research Initiative critiques India's Rs25,060-crore Export Promotion Mission, highlighting implementation and funding challenges. The initiative, designed to enhance export competitiveness, requires detailed frameworks and substantial financial support. Institutional learning and coordination are essential for its effectiveness amidst a challenging global trade environment.

The Union Cabinet's approval of a Rs25,060-crore Export Promotion Mission (EPM) marks a significant policy move aimed at boosting India's export competitiveness. However, the Global Trade Research Initiative (GTRI) warns that the initiative faces substantial hurdles, particularly in terms of implementation logistics and financing adequacy.

The EPM is structured around two major pillars: NIRYAT PROTSAHAN, focusing on making trade finance more accessible for MSMEs through reduced costs and innovative credit solutions, and NIRYAT DISHA, which offers non-financial aid including quality compliance, enhanced branding, and logistical support for exporters.

Despite the mission's ambitious framework, GTRI highlights several structural weaknesses. These include the need for detailed operative schemes, an efficient online system, and substantial funding levels that align with the initiative's goals. Delays in addressing these issues could leave exporters, particularly MSMEs, disadvantaged in the current global market.

(With inputs from agencies.)