Govt launching Rs 25,000 crore worth of schemes to boost exports

New Delhi, Aug 24: The Ministry of Commerce and Industry has drawn up a Rs 25,000 crore proposal for WTO-compliant support schemes, mainly to help finance small exporters in labour-intensive sectors such as textiles, gems & jewellery, and marine products under the Export Promotion Mission for a six-year period.

A senior official confirmed that the proposal has been sent to the Finance Ministry for approval, after which it will be forwarded for Cabinet approval before it is finally rolled out.

These schemes have been designed to be compliant with World Trade Organisation (WTO) regulations and will focus on trade finance and improving market access for exporters.

The new package of schemes under the Export Promotion Mission follows the Rs. 2,250 crore mission announced in the 2025-26 Union Budget, which has not yet been rolled out. The launch has gained further urgency given the uncertainties in the international market due to the hike in US tariffs.

There is a need to diversify markets, and the schemes will also focus on developing the logistics chain and marketing to diversify markets for Indian exports.

The government views this mission as a long-term strategy that addresses challenges beyond just tariffs and trade wars. The strategy includes promoting exports, diversifying both markets and the export baskets to make them more competitive. The high interest rates in the Indian banking sector tend to put the country’s exporters at a disadvantage vis-a-vis their competitors, and financing on more affordable terms would help to bridge this gap.