Export Promotion Mission Sent To FinMin Committee For Approval; Rollout Soon

The government is preparing to roll out its long-awaited Export Promotion Mission to cushion Indian exporters from the impact of fresh US tariff hikes, sources told NDTV Profit. The Commerce Ministry has finalised the proposal and sent it to the Finance Ministry's Expenditure Finance Committee (EFC) for review.

Once cleared by the EFC, the proposal will be placed before the Union Cabinet for final approval, the persons privy to the matter said. The mission is expected to focus on strengthening market access, diversifying India's export destinations, and boosting the competitiveness of Indian goods in global markets.

Officials indicated that the initiative will also address structural challenges faced by exporters, including high logistics costs, quality upgradation, and compliance with evolving global standards. Dedicated support is expected for sectors most affected by the recent tariff hikes, particularly those reliant on the US market.

The move comes as part of a broader trade strategy, which includes expanding India's export market targets from 20 to 50 countries and developing a product-by-product approach to reduce dependence on a few key destinations.

Industry bodies have been urging the government for targeted relief, warning that tariff-related disruptions could erode India's export growth momentum. With global trade uncertainty persisting, the Export Promotion Mission is seen as a key policy lever to protect jobs and sustain export-led growth.

According to officials, the government aims to operationalise the scheme at the earliest, once the necessary clearances are in place.

The mission was first announced in the Union Budget for 2025-26 by Finance Minister Nirmala Sitharaman, with a Rs 2,250 crore allocation for the current financial year, which would "facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets."