Centre Mulls Over ₹25,000 crore Support Measures for Exporters - Key Details

The centre is mulling over providing support measures worth Rs 25,000 crore for exporters as part of the Export Promotion Mission under the budget for a six-year period, as per media reports.

The primary focus is to make available affordable credit to exporter community. The Ministry of Commerce has sent the proposal to the expenditure finance committee (EFC) of the Ministry of Finance.

Pending approval, these measures would aid Indian exporters from global trade uncertainties induced by Trump's tariffs.

The US has imposed the highest levy of 50 per cent tariff on Indian goods, starting August 27. Presently, the first tranche of 25 per cent tariff already in place.

After the approval of the proposal from the EFC, the commerce ministry would approach the Union Cabinet.

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The proposed mission aims to offer inclusive, and sustainable export growth over six years, beginning from fiscal year 2025- 2031.

The Export Promotion Mission (EPM) is anchored in a collaborative framework, involving the Department of Commerce, ministry of MSME, Ministry of Finance, export promotion councils, commodity boards, industry associations, and other state governments.

The mission is proposed to be implemented via two sub-schemes - Niryat Protsahan (worth over Rs 10,000 crore) and Niryat Disha (totalling Rs 14,500 crore), as per media reports. 

The main elements under the Niryat Protsahan scheme are interest equalisation aid worth Rs 5,000 crore for six financial years (2025-2031), support for alternative trade finance instruments, a credit card for e-commerce exporters, and other financing mechanisms to bridge liquidity gaps faced by exporters.

Under the Niryat Disha, the proposed aid measures include support for export quality compliance of approximately Rs 4,000 crore, and overseas market development (over Rs 4,000 crore), branding, export warehousing and logistics, and capacity building to integrate more Indian enterprises into global value chains.

During April-July period this year, exports increased by 3.07 per cent to USD 149.2 billion, while imports rose 5.36 per cent to USD 244.01 billion.