Export promotion mission under inter-ministerial consultation
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This story was originally published at 17:55 IST on 14 August 2025
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--Govt: Export promotion mission under inter-ministerial consultation
NEW DELHI – The government is holding inter-ministerial consultations on the Budget proposal to set up an Export Promotion Mission, the commerce ministry said Thursday. The mission will likely be launched very soon, Commerce Secretary Sunil Barthwal said.
In the Budget for 2025-26 (Apr-Mar), the government had announced the Export Promotion Mission with an outlay of INR 22.50 billion. The mission will facilitate easy access to export credit, cross-border factoring support, and support to micro, small and medium enterprises to tackle non-tariff measures in overseas markets, Finance Minister Nirmala Sitharaman had said in her Budget speech.
The setting up of the mission comes at a time when exporters and MSMEs are demanding protection against US tariffs on Indian goods, which could adversely affect labour-intensive sectors such as chemicals and fertilisers, textile and apparel, gem and jewellery, shrimp and seafood, furniture and beddings, and machinery and mechanical appliances.
The US has imposed a 50% tariff on Indian goods, out of which 25% will come into effect from Aug. 27 for New Delhi's continued purchase of crude oil and defence equipment from Moscow.
The US is India's top export destination, with exports worth $86.51 billion in FY25, and a trade surplus of $40.82 billion. The additional tariff on nearly 55% of exports to the US poses a risk to almost $50 billion of Indian goods. End
US$1 = INR 87.55
Reported by Priyasmita Dutta and Krity Ambey
Edited by Saji George Titus
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