New Export Promotion Mission Aims to Boost India's Trade Competitiveness

Commerce and Industry Minister Piyush Goyal announced a Rs 25,060 crore export promotion mission to help landlocked states enhance their export competitiveness. The mission targets market diversification and logistics reforms. The government aims to counter high US tariffs impacting Indian exports currently.

Commerce and Industry Minister Piyush Goyal announced on Tuesday a significant export promotion mission with an outlay of Rs 25,060 crore. This mission targets increasing the export competitiveness of landlocked states through specific schemes

Addressing the fourth Board of Trade meeting, Goyal emphasized the importance of a robust centre-state alliance to catalyze export growth. The export mission, spanning six years starting in 2025-26, will address the high tariffs imposed by the US.

The mission includes two sub-schemes, Niryat Protsahan and Niryat Disha, allowing a focused approach on market diversification and logistics reforms. The initiative comes amidst challenges such as an USD 41.68 billion trade deficit in October.

(With inputs from agencies.)