The government of india is set to initiate a comprehensive proposal worth Rs 25,000 crore aimed at boosting exports through WTO-compliant support schemes. This initiative, spearheaded by the Ministry of Commerce and Industry, primarily targets small exporters in labor-intensive sectors such as textiles, gems and jewelry, and marine products under the Export Promotion Mission over a six-year period.
A senior official confirmed that the proposal is currently with the Finance Ministry for approval before being forwarded to the Cabinet. These schemes are designed to enhance trade finance and improve market access for exporters, addressing challenges beyond tariffs and trade wars.
The urgency for this new package follows the Rs 2,250 crore mission announced in the 2025-26 Union Budget, which has yet to be implemented. Given the recent hike in US tariffs, there is an increasing need to diversify export markets. The government plans to develop logistics and marketing strategies to support this diversification.
The proposed schemes include collateral-free loans, alternative financial instruments, and assistance for entering new markets, and will be coordinated with the MSME Ministry, which is crucial as it employs the majority of the workforce in the country.
India's merchandise exports grew by 7.29% to $37.24 billion in July, compared to $34.71 billion in the same month last year. Commerce Secretary sunil Barthwal noted that despite global uncertainties, India’s exports have outperformed global growth rates. Between april and July 2025-26, exports increased by 3.07% to $149.2 billion, while imports rose by 5.36% to $244.01 billion. The government is also looking to strengthen free trade agreements to further enhance export promotion efforts.
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