FIEO welcomes cabinet approval of Export Promotion Mission, credit plan

The Federation of Indian Export Organisations (FIEO) has welcomed the Union Cabinet’s approval of the Export Promotion Mission (EPM), calling it a major reform that will strengthen India’s export competitiveness, especially for MSMEs, first-time exporters, and labour-intensive sectors. The Mission carries a total outlay of ₹25,060 crore for FY 2025–26 to FY 2030–31 and consolidates multiple export schemes into a single digital and outcome-based framework.

FIEO President S C Ralhan said the Mission shows a pragmatic and forward-looking approach to India’s trade sector. He said the unified structure will give exporters continuity, flexibility, and support as they deal with global trade challenges, noting that MSMEs often face difficulties in accessing affordable finance and compliance help.

Mr Ralhan said the EPM responds to long-standing issues that have weakened India’s export competitiveness, including limited access to finance, high compliance costs, weak branding, and logistics bottlenecks. He added that addressing these challenges will help sustain export momentum, protect jobs, and expand India’s export reach into new regions and emerging sectors.

The Mission will give special focus to sectors hit by recent global tariff increases such as textiles, leather, gems and jewellery, engineering goods, and marine products. The Directorate General of Foreign Trade (DGFT) will act as the implementing agency and will manage all processes through a digital platform to improve transparency and speed.

Mr Ralhan said digital integration with current trade systems will reduce paperwork, improve coordination, and support timely disbursals, helping create a tech-enabled export environment aligned with the vision of Viksit Bharat @2047.

He added that the EPM will increase MSME participation in exports and support job creation in manufacturing, logistics, and related services, strengthening India’s role in global value chains.

FIEO also welcomed the Credit Guarantee Scheme for exporters, saying it will provide collateral-free lending and infuse much-needed financial liquidity.

Mr Ralhan said FIEO looks forward to working with the Department of Commerce, DGFT, and other stakeholders for smooth and effective implementation, calling the Mission a transformative moment for Indian exports.