Inter-Ministerial Consultations Conclude, Cabinet Nod Awaited
The much-awaited Export Promotion Mission, announced in the Union Budget, is moving a step closer to reality. According to government sources, inter-ministerial consultations have already been completed, and the proposal will soon be sent to the Union Cabinet for approval.
₹25,000 Crore Support Over Six Years
As per initial reports, the government is considering support measures worth about ₹25,000 crore for exporters under this mission. The scheme is expected to run for six financial years (2025–2031), providing consistent assistance to Indian exporters during uncertain global trade conditions.
Shield Against Global Trade Challenges
The Export Promotion Mission comes at a crucial time when global trade is witnessing heightened volatility. Recently, the United States imposed a 50% tariff on Indian goods, effective from August 27. This move, widely seen as “Trump tariffs,” is expected to impact several export-oriented industries.
By offering targeted support, the mission aims to insulate domestic exporters from such global uncertainties and maintain India’s competitive edge in the international market.
Flexible and Fungible Framework
Officials familiar with the matter described the scheme as “fungible,” meaning it can adapt to changing trade dynamics and sectoral needs. “So, export promotion mission, you know, the inter-ministerial consultations have happened, and soon we will be going to Cabinet. Already in the Budget, there was an announcement, and it would be a kind of scheme which would be fungible,” sources confirmed.
Boost to Export Competitiveness
Experts believe that with adequate policy support and financial backing, Indian exporters will be better positioned to face global tariff wars, diversify trade partnerships, and explore new markets.
The Road Ahead
Once approved by the Union Cabinet, the Export Promotion Mission could become a cornerstone initiative in India’s long-term trade strategy, ensuring resilience for domestic exporters while strengthening the country’s presence in the global marketplace.
