India's Export Promotion Mission Targets Global Markets

The Indian government has announced an Export Promotion Mission with a budget of Rs 2,250 crore, focusing on providing capital support to various sectors for technology upgrades, brand building, and market access. The mission aims to boost exports and assist MSMEs in overcoming non-tariff measures globally.

The Indian government unveiled a significant initiative with the Export Promotion Mission, allocating Rs 2,250 crore to invigorate the nation's export landscape. The effort involves the Ministries of Commerce, MSME, and Finance, reflecting a concerted push to enhance India's global market presence.

The mission will focus on identifying sectors requiring capital support for technological advancements, marketing strategies, and brand establishment. It will also facilitate easier access to export credit and assist MSMEs in navigating non-tariff measures in international markets, thereby lowering export barriers.

Union Minister Piyush Goyal emphasized the need for targeted support in manufacturing sectors like textiles and toys, asserting that the mission aims to harness domestic potential while strategically addressing cost disadvantages in crucial industries.

(With inputs from agencies.)