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The Hindu
3 days ago
- Business
- The Hindu
Govt may roll out ₹2,250 crore export promotion mission soon: Official
The government is expected to soon announce support measures under the proposed ₹2,250 crore export promotion mission to help insulate industry from global trade uncertainties arising from Trump tariffs, an official said. "We are in dialogue with exporters to see how we can support them best in different ways, like ease of doing business. We are looking at how to give a boost to domestic consumption. We are looking at new supply chains, which we can capture, new markets, and new products," the official said. The mission may include components, such as easy credit schemes for MSME and e-commerce exporters, facilitation of overseas warehousing, and global branding initiatives to tap emerging export opportunities. The government on February 1 announced the setting up of the mission with an outlay of ₹2,250 crore. The Directorate General of Foreign Trade (DGFT) has already made a presentation on the mission to the representatives of export promotion councils and other key stakeholders on April 30. According to industry officials, the mission is divided into two broad categories - Providing Trade Finance Support (NIRYAT PROTSAHAN) and Driving International Holistic Market Access (NIRYAT DISHA) Initiative. Sources have earlier stated that the GST Council is likely to meet soon to discuss rate simplification and rationalisation, and the future of the compensation cess. It will help boost domestic consumption. The commerce ministry, in the past few days, held a series of stakeholder meetings to understand the challenges which they are facing due to high U.S. tariffs on Indian goods. US President Donald Trump has announced 50% tariffs on India. Sectors like textiles, chemicals, leather and footwear are expected to be hit hard by these duties. India's exports remained flat at $35.14 billion in June due to global economic uncertainties, while the trade deficit narrowed to a four-month low of $18.78 billion during the month. Key export sectors, including petroleum, fabrics, gems and jewellery, leather, iron ore, oil seeds, cashew, spices, tobacco, and coffee, recorded negative growth during June. During April-June 2025-26, exports increased 1.92% to $112.17 billion, while imports rose 4.24%nt to $179.44 billion.
News18
4 days ago
- Business
- News18
Govt may roll out Rs 2,250 cr export promotion mission soon: Official
New Delhi, Aug 9 (PTI) The government is expected to soon announce support measures under the proposed Rs 2,250 crore export promotion mission to help insulate industry from global trade uncertainties arising from Trump tariffs, an official said. 'We are in dialogue with exporters to see how we can support them best in different ways, like ease of doing business. We are looking at how to give a boost to domestic consumption. We are looking at new supply chains, which we can capture, new markets, and new products," the official said. The mission may include components, such as easy credit schemes for MSME and e-commerce exporters, facilitation of overseas warehousing, and global branding initiatives to tap emerging export opportunities. The government on February 1 announced the setting up of the mission with an outlay of Rs 2,250 crore. The Directorate General of Foreign Trade (DGFT) has already made a presentation on the mission to the representatives of export promotion councils and other key stakeholders on April 30. According to industry officials, the mission is divided into two broad categories – Providing Trade Finance Support (NIRYAT PROTSAHAN) and Driving International Holistic Market Access (NIRYAT DISHA) Initiative. Sources have earlier stated that the GST Council is likely to meet soon to discuss rate simplification and rationalisation, and the future of the compensation cess. It will help boost domestic consumption. The commerce ministry, in the past few days, held a series of stakeholder meetings to understand the challenges which they are facing due to high US tariffs on Indian goods. US President Donald Trump has announced 50 per cent tariffs on India. Sectors like textiles, chemicals, leather and footwear are expected to be hit hard by these duties. India's exports remained flat at USD 35.14 billion in June due to global economic uncertainties, while the trade deficit narrowed to a four-month low of USD 18.78 billion during the month. Key export sectors, including petroleum, fabrics, gems and jewellery, leather, iron ore, oil seeds, cashew, spices, tobacco, and coffee, recorded negative growth during June. During April-June 2025-26, exports increased 1.92 per cent to USD 112.17 billion, while imports rose 4.24 per cent to USD 179.44 billion. PTI RR BAL BAL view comments First Published: August 09, 2025, 14:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
01-05-2025
- Business
- Time of India
Comm Min's export promotion mission may have 12-point plan to push exports, help MSME exporters
The commerce ministry's Export Promotion Mission (EPM), with a Rs 2,250 crore outlay, is set to launch with up to 12 components. These include easy credit schemes for MSMEs and e-commerce exporters, overseas warehousing facilitation, and global branding initiatives. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The commerce ministry's Export Promotion Mission (EPM) is expected to feature up to 12 components, including easy credit schemes for MSME e-commerce exporters , facilitation of overseas warehousing, and global branding initiatives , to tap emerging export opportunities and strengthen trade tools for small businesses, an industry official said. The Directorate General of Foreign Trade (DGFT) showed a presentation on this mission to the representatives of export promotion councils and other key stakeholders on April DGFT has also sought the views of the councils on this before finalising the schemes under this EPM is divided into two broad categories - Providing Trade Finance Support ( NIRYAT PROTSAHAN ); and Driving International Holistic Market Access (NIRYAT DISHA) NIRYAT PROTSAHAN, six sub-schemes are under consideration; the Niryat Rin Vikas (NIRVIK) Sub-Scheme for MSMEs and new exporters; Support for Emerging Export Opportunities; Support for Trade Instruments for MSMEs; Collateral Support for Export Credit for MSME exporters; E-commerce Export Credit Card Sub-Scheme; and BharatTradeNET, the official in the NIRYAT DISHA initiative, there are also six elements. These are Technical Regulations and Compliance Enablement (TRACE); Focussed Market Access Initiative (FMAI); Facilitating Export Logistics and Overseas Warehousing (FLOW); Global Outreach for Branding Exports (GLOBE); Export Planning and Development for Districts and Clusters (EXPAND); R&D Support Sub-Scheme for India Centre for Lab Grown Diamond (InCent-LGD) at IIT Madras, official added that these sub-schemes will be implemented through a digitally enabled application and monitoring system, anchored around an online 'intent to claim' objective of the NIRVIK sub-schemes is to establish a dynamic and responsive interest equalisation support framework that enables MSMEs to access export credit in rupee (INR) at globally competitive rates."This will be achieved through the periodic notification of NIRVIK rates, which will be benchmarked against prevailing interest rates offered to exporters in countries that compete with India in international trade," the official would be applicable to MSME exporters availing export credit, subject to a specified cap limit for interest subvention. However, this cap shall be reviewed periodically based on the actual a negative list of export items would be maintained under the scheme and no interest subvention shall be provided for items included in this negative negative list is prepared based on criteria such as low-value addition and high outgo, raw materials and primary products, high-value and potential items for misuse, and other sensitive Items."There will be an annual notification of NIRVIK rates, which will be benchmarked against prevailing interest rates offered to exporters in countries that compete with India in international trade," another official collateral support for export credit for MSME exporters sub-scheme's objective is to provide back-up collateral upwards of 80 per cent or as decided by the collateral support agency to MSMEs and e-commerce exporters, based on the composite track record of the government on February 1 announced the setting up of an Export Promotion Mission with an outlay of Rs 2,250 crore to promote the country's outbound Minister Nirmala Sitharaman has said that through the mission, the government will facilitate exporters to get easy access to credit, cross-border factoring support, and support MSMEs to tackle non-tariff measures in overseas markets.
