The government is considering support measures for exporters amounting to ₹25,000 crore.
This support is planned under the Export Promotion Mission.
The mission was announced in the Budget.
The support measures are intended for six financial years, from 2025 to 2031.
Detailed Insights:
The Export Promotion Mission aims to boost the country's export sector, enhancing its competitiveness in the global market.
Government support may include incentives, subsidies, and infrastructure development to reduce transaction costs for exporters.
The Department of Commerce is likely involved in formulating and implementing these support measures.
The mission is proposed to be implemented through two sub-schemes - Niryat Protsahan (over Rs 10,000 crore) and Niryat Disha (over Rs 14,500 crore), sources said.
Niryat Protsahan – Key Elements:
Interest equalisation support: ₹5,000+ crore over six years (2025–2031).
Support for alternative trade finance instruments.
Credit card facility for e-commerce exporters.
Financing mechanisms to bridge liquidity gaps faced by exporters.
Niryat Disha – Key Elements:
Export quality compliance support: ~₹4,000 crore.
Overseas market development: ₹4,000+ crore.
Branding of Indian exports.
Export warehousing & logistics.
Capacity building to integrate MSMEs & Indian firms into global value chains.
These measures could help achieve the government's goal of increasing India's share in global trade and integrating with Global Value Chains.
Key Concepts Involved:
Export Promotion: Government policies designed to encourage the export of goods and services.
Subsidies: Financial assistance provided by the government to support specific industries or activities.
Global Value Chains (GVCs): International production networks where different stages of production are located across various countries.