Cabinet Approves ₹25,000 Crore Export Promotion Mission to Strengthen India’s Global Trade Competitiveness
New Delhi, November 13: In a major push to enhance India’s presence in global markets, the Union Cabinet has approved a comprehensive six-year Export Promotion Mission worth ₹25,000 crore, along with a new Credit Guarantee Scheme aimed at supporting exporters and improving trade competitiveness.
The initiative is designed to provide a structured boost to India’s exports by enhancing product quality, diversifying export destinations, and supporting small and medium enterprises (SMEs) through easier access to credit and risk protection.
According to government officials, the Export Promotion Mission will act as a unified framework for all export-related schemes, ensuring better coordination between central ministries, export councils, and state governments. The mission seeks to bridge infrastructure gaps, simplify export procedures, and strengthen India’s logistics and trade facilitation systems to meet international standards.
Under the newly cleared plan, the Credit Guarantee Scheme will be a crucial pillar, providing risk coverage to banks and financial institutions that extend loans to exporters. This move is expected to improve liquidity and enable smaller exporters to expand into new markets with confidence.
Union Minister for Commerce and Industry Piyush Goyal said the mission aligns with India’s long-term goal of achieving $2 trillion in exports by 2030. “This initiative reflects the government’s vision of making India a global manufacturing and export powerhouse,” he said, emphasizing that the focus will be on value-added sectors such as electronics, pharmaceuticals, textiles, and renewable energy components.
The program also aims to support exporters through technology upgradation, product innovation, and brand promotion in international markets. Dedicated export hubs will be developed across key sectors to streamline supply chains and reduce logistic costs, particularly in ports and border trade zones.
Industry leaders have welcomed the move, stating that the export promotion mission comes at a crucial time when global trade faces volatility and supply chain disruptions. The emphasis on credit support and market diversification is expected to help Indian exporters navigate global challenges more effectively.
The Cabinet’s approval is part of a broader effort to make India a more resilient and self-reliant economy under the government’s “Viksit Bharat 2047” vision. The mission is expected to generate significant employment opportunities, boost foreign exchange reserves, and strengthen India’s reputation as a trusted trading partner worldwide.
With implementation set to begin early next year, the Export Promotion Mission is poised to become a cornerstone policy for transforming India into a high-value, export-driven economy and reinforcing its position in the global trade ecosystem.
Further details on fund allocation, sectoral targets, and operational guidelines are expected to be announced by the Ministry of Commerce in the coming weeks.
