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Informist, Saturday, Feb. 1, 2025

--BUDGET: To support domestic electronic industry 

--BUDGET: To help MSMEs tackle non-tariff measures overseas 

--BUDGET: To set up Bharat Trade Net as unified platform for trade financing 

--BUDGET: To boost domestic mfg to integrate econ with global supply chains 

--BUDGET: To set up Bharat Trade Net as platform for trade documentation 

--BUDGET: Export mission to be under Commerce, MSME, Finance ministries 

--BUDGET:Export promotion mission to facilitate easy access to export credit 

--BUDGET: To set up exports promotion mission 

NEW DELHI - The Union Budget for 2025-26 (Apr-Mar) announced the launch of an export promotion mission, which will facilitate easy credit access for exports. The mission, with sectoral and ministerial targets, will be driven jointly by the ministries of commerce, micro, small and medium enterprises, and finance.

It will also facilitate cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets, Finance Minister Nirmala Sitharaman said, while presenting the Union Budget for FY26 in the Lok Sabha on Saturday.

The government will also set up a digital public infrastructure, 'BharatTradeNet' for international trade, which will act as a unified platform for trade documentation and financing solutions. "This will complement the Unified Logistics Interface Platform. This will also be aligned with international practices," Sitharaman said.

The government will also provide support to develop domestic manufacturing capacities for integration with global supply chains. Sectors will be identified based on objective criteria, she said in her speech. "Facilitation groups with the participation of senior officers and industry representatives will be formed for select products and supply chains. 

"Through this, there are huge opportunities related to Industry 4.0, which needs high skills and talent. Our youth have both. Our government will support the domestic electronic equipment industry to leverage this opportunity for the benefit of the youth," Sitharaman said.  End

Reported by Pallavi Singhal

Edited by Avishek Dutta

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