The government is working on rolling out a Rs 2,250-crore Export Promotion Mission aimed at boosting India's overseas shipments while safeguarding domestic economic priorities amid Trump's tariff uncertainties. The initiative is expected to be rolled out soon, with consultations underway with industry stakeholders.
The mission is likely to feature a range of measures, including easy credit schemes for MSME and e-commerce exporters, facilitation of overseas warehousing, and global branding campaigns to position Indian products more competitively in emerging markets. Sources suggest the programme will also focus on tapping new export opportunities in high-growth sectors.
The mission was announced in February this year and has been a longstanding demand of exporters. Officials have indicated that alongside export promotion, measures to stimulate domestic consumption will also be taken, ensuring that growth in foreign trade does not come at the cost of the home market.
Exporters, meanwhile, have emphasised that any bilateral trade deal with the US should not be signed at the expense of national interest. This comes amid ongoing negotiations with Washington, where differences over market access in sensitive sectors like agriculture and dairy have stalled progress.
Sources also said that the conclusion and signing of the proposed free trade agreement between India and Oman is expected to be announced soon. The trade pact text is being translated into Arabic in Oman. After that, the cabinets of both countries will approve the agreement, according to the official. Both countries have, in principle, decided to announce the conclusion and signing together, in about a month's time.
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