Government's Export Promotion Mission: A Catalyst for India's Global Apparel Ambitions

The government's export promotion mission aims to lower compliance costs and enhance shipments. Among the initiatives are credit assistance for e-commerce exporters and alternative trade instruments. The initiative, a holistic framework, supports market expansion and positions India as a leading global apparel supplier.

The recent measures under India's export promotion mission are poised to significantly reduce compliance costs and boost shipments, according to industry experts. On Friday, the government unveiled seven new strategies, which include credit assistance for e-commerce exporters and support for alternative trade instruments, all part of a robust Rs 25,060-crore initiative to enhance outbound shipments.

The Apparel Export Promotion Council of India's Chairman, A Sakthivel, hailed the mission as both a strategic defense against international uncertainties and a catalyst for capturing emerging market opportunities. The mission supports all stages of the export process, covering areas such as raw material procurement, logistics, branding, marketing, and financing. This comprehensive approach empowers small suppliers and brands to tap into global markets via e-commerce, while larger companies can streamline high-volume orders to major markets.

Further bolstering the initiative, Free Trade Agreements with the UK, EU, and other economies are expected to soon provide substantial tariff advantages. This development positions India not merely as a competitive player, but as the preferred sourcing destination globally. Industry leaders like SC Ralhan of the Federation of Indian Export Organisations emphasize that addressing issues such as high credit costs and logistical inefficiencies will enable MSMEs to price competitively and enhance their credibility overseas.

(With inputs from agencies.)