Boosting Startups: A New Pathway in the Export Promotion Mission

Commerce and Industry Minister Piyush Goyal announced plans to create a dedicated segment for startups under the Export Promotion Mission, aimed at aiding new entrepreneurs in accessing international markets. The initiative, part of a Rs 25,060-crore mission, seeks to enhance Indian exports amidst global trade challenges.

The Commerce and Industry Minister, Piyush Goyal, has revealed that the ministry plans to establish a distinct segment for startups within the Export Promotion Mission. This move is intended to assist budding entrepreneurs in penetrating international markets with their innovative products.

The government has allocated Rs 25,060-crore to the Export Promotion Mission (EPM), aiming to boost exports, especially in the face of high tariffs imposed by the US. Goyal noted that creating a new path for startups under EPM is crucial.

The initiative, along with ongoing efforts to bolster the startup ecosystem in India, including participation in global exhibitions, is expected to propel the nation towards housing 10 lakh startups and creating 1 crore job opportunities over the next decade.

(With inputs from agencies.)