Commerce and Industry Minister Piyush Goyal unveiled seven new measures as part of the Export Promotion Mission to empower micro, small, and medium enterprises (MSMEs) in global markets. These interventions aim to tackle challenges faced by Indian exporters, foster inclusive export growth, and enhance India’s competitiveness internationally. Goyal highlighted the importance of ensuring that the benefits of global trade reach every MSME, startup, and entrepreneur, emphasizing the mission’s role in promoting new products, services, and exporters while facilitating access to new markets.
The Export Promotion Mission focuses on streamlining processes for MSMEs, improving access to credit, enhancing quality standards, ensuring compliance with international regulations, and expanding global logistics and warehousing infrastructure. Initiatives like overseas warehousing, such as Bharat Mart in Dubai, are intended to offer Indian exporters strategic market access across regions like the GCC, Africa, Central Asia, and Europe. The mission adopts a comprehensive approach by integrating financial support through ‘Niryat Protsahan’ and trade ecosystem assistance through ‘Niryat Disha’ in a unified, digitally monitored framework.
Implemented by the Department of Commerce in collaboration with the Ministry of MSME, Ministry of Finance, EXIM Bank, and other key stakeholders, the Export Promotion Mission seeks to address structural challenges faced by MSMEs, including capital costs, limited access to diverse trade finance tools, compliance issues in global markets, logistical hurdles, and market entry barriers. Goyal also highlighted the significant market access improvements for Indian exporters due to India’s expanding network of free trade agreements (FTAs), providing preferential access to nearly 70% of global GDP and two-thirds of global trade through agreements with 38 economies, including the United States.
