Unlocking New Markets: India's Export Promotion Mission Unveiled

Guidelines for India's Interest Equalisation Scheme and Market Access Initiative, part of a Rs 25,060 crore mission, will be released soon. The mission aims to counteract high US tariffs and bolster exports, especially in sectors like textiles. Implementation targets new and existing markets through two sub-schemes.

The forthcoming release of guidelines for the Interest Equalisation Scheme and the Market Access Initiative was announced on Tuesday as part of India's ambitious Rs 25,060 crore export promotion mission. These measures aim to address the impact of high tariffs imposed by the US.

Ajay Bhadoo, Director General of Foreign Trade, confirmed that the comprehensive guidelines would be available by January 15, fulfilling a pivotal component of the mission. The Board of Trade, reconstituted in 2019, continues to advise on policies related to foreign trade.

With financial backing earmarked for the coming years, the mission is set to support sectors hit by global tariff hikes, including textiles, leather, and marine products, through interest subsidies and new market initiatives under the Export Promotion Mission.

(With inputs from agencies.)