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Centre launches new interventions in Export Promotion Mission to boost MSMEs
Centre launches new interventions in Export Promotion Mission to boost MSMEs
These interventions are designed to address key challenges faced by Indian exporters, promote broad-based and inclusive export growth, and strengthen India’s position as a globally competitive export powerhouse.
New Delhi: Commerce and Industry Minister Piyush Goyal on Friday launched seven additional interventions under the Export Promotion Mission, a flagship initiative of the Centre aimed at empowering micro, small, and medium enterprises (MSMEs) for competing in global markets.
These interventions are designed to address key challenges faced by Indian exporters, promote broad-based and inclusive export growth, and strengthen India’s position as a globally competitive export powerhouse.
The minister stated that India today engages with developed economies with confidence, safeguarding sensitive sectors while securing gains in areas of competitive strength.
Emphasising that the benefits of global trade must reach every MSME, startup, and entrepreneur, Goyal said the Export Promotion Mission is aimed at promoting new products, services and exporters, while enabling Indian businesses to access new markets. He noted that India has recorded double-digit growth in merchandise exports in the first half of February, reflecting strong market confidence and proactive industry participation.
He stated that the Mission seeks to simplify processes for MSMEs, strengthen access to credit, enhance quality standards, support compliance with international regulations and expand logistics and warehousing infrastructure globally. Initiatives such as overseas warehousing, including Bharat Mart in Dubai, are intended to provide Indian exporters with strategic access to markets across the GCC, Africa, Central Asia, and Europe.
The Export Promotion Mission adopts a holistic ecosystem approach by combining financial enablers under ‘Niryat Protsahan’ and trade ecosystem support under ‘Niryat Disha’, delivered through a unified and digitally monitored framework.
The Mission is implemented by the Department of Commerce in coordination with the Ministry of MSME, Ministry of Finance, EXIM Bank, Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), National Credit Guarantee Trustee Company Limited (NCGTC), regulated lending institutions, Indian Missions abroad, EPCs and industry stakeholders.
The newly launched interventions aim to address structural constraints faced by MSMEs, including high cost of capital, limited access to diversified trade finance instruments, compliance burdens in international markets, logistics disadvantages, and barriers to market entry.
Goyal also underlined that India’s expanding network of free trade agreements (FTAs) has significantly enhanced market access for Indian exporters. He noted that nearly 70 per cent of global GDP and two-thirds of global trade are now accessible to India through nine concluded FTAs, including the first tranche of the Bilateral Trade Agreement with the United States. These agreements provide preferential access across sectors in 38 developed and emerging economies.
Source: ZeeNews
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