The Indian government is set to release comprehensive guidelines for its ambitious Rs 25,060-crore Export Promotion Mission (EPM) before the end of November, according to Commerce Secretary Rajesh Agrawal. The announcement made on Monday signals a significant step forward in implementing the six-year export boost initiative approved by the government on November 12.
Mission Components and Implementation Timeline
Commerce Secretary Rajesh Agrawal confirmed that multiple sub-committees are actively working on finalizing the detailed guidelines for the two major components of the export mission. The mission comprises Niryat Protsahan with an allocation of Rs 10,401 crore and Niryat Disha with Rs 14,659 crore in funding.
"We will start releasing them within this month itself. If not all, we will have a major portion of these guidelines coming out by the end of this month," Agrawal told reporters. The mission is scheduled for implementation starting from the fiscal year 2025-26, providing a structured approach to enhance India's export capabilities.
Targeted Support for Affected Sectors
The Export Promotion Mission will prioritize assistance for sectors that have suffered direct impacts from recent global tariff escalations. Key industries identified for support include textiles, leather, gems and jewellery, engineering goods, and marine products. These sectors have faced significant challenges due to international trade barriers.
The urgency of the mission is highlighted by recent trade data showing India's exports to the United States dropped by 8.58% to USD 6.3 billion in October. This decline followed the imposition of steep 50% tariffs by Washington effective from August 27, creating substantial pressure on Indian exporters.
Comprehensive Trade Finance Solutions
The commerce ministry has positioned the EPM as a transformative shift from fragmented schemes to a unified, outcome-driven mechanism capable of responding swiftly to global trade disruptions. The mission aims to address the complete spectrum of trade finance challenges faced by exporters, with particular focus on Micro, Small, and Medium Enterprises (MSMEs).
Under the Niryat Protsahan component, the focus will be on improving access to affordable trade finance through multiple instruments. These include interest subvention, export factoring, collateral guarantees, specialized credit cards for e-commerce exporters, and credit enhancement facilities for diversification into new markets.
The Niryat Disha component will support non-financial enablers including global branding initiatives, packaging improvements, participation in international trade fairs, export warehousing and logistics infrastructure, inland transport reimbursements, trade intelligence gathering, and skill development programs.
India and the United States are currently engaged in bilateral trade agreement negotiations, even as exporters seek immediate relief measures to maintain their competitive edge in international markets. The Export Promotion Mission is expected to strengthen MSME access to trade finance, enhance compliance readiness, and broaden international market access for Indian products across various sectors.
