India's Rs 25,060 Crore Export Promotion Mission: Boosting Competitiveness

Commerce and Industry Minister Piyush Goyal announced a Rs 25,060 crore Export Promotion Mission to enhance the competitiveness of landlocked states. A focus on market diversification, MSME empowerment, and technology adoption aims to strengthen India’s position in global trade amidst high US tariffs.

In a significant announcement, Commerce and Industry Minister Piyush Goyal unveiled a Rs 25,060 crore Export Promotion Mission aimed at bolstering the competitiveness of landlocked Indian states. This mission will play a crucial role as the country grapples with high tariffs imposed by the US.

Goyal emphasized the need for market diversification, logistics reforms, and MSME empowerment to integrate India more deeply into global value chains. The mission, approved by the government, includes targeted schemes to support these goals and will be implemented through two sub-schemes: Niryat Protsahan and Niryat Disha.

The move comes as India's exports decreased significantly due to increased tariffs, impacting trade balance. A collaborative approach involving state partnerships and enhanced digital infrastructure is expected to drive the success of this mission, aiming to create a robust export environment.

(With inputs from agencies.)