Export plan
The central government is considering a plan to assist about Rs 25,000 crore to exporters for the year 2025 to 2031 under the Export Promotion Mission announced in the budget. The government is making a new plan to bring Indian products to countries around the world.
According to sources, the main objective of this support is to provide cheap and easy loans to exporters. The Commerce Ministry has sent this proposal Finance Ministry to the Expenditure Finance Committee (EFC). If it is approved, it will help Indian exporters especially to protect the uncertainty of global trade born from American tax.
After getting approval from EFC, the Commerce Ministry will take approval from the Union Cabinet. The purpose of this mission is to promote large-scale, inculpated and sustainable export growth in the next 6 years (FY 2025-31). Under this, a solution of big problems will be found by going ahead in traditional methods, especially MSMES (Micro, Small and Medium Enterprises). Sources said that there is a plan to implement this mission through two sub-schemes.
- Export Promotion (over Rs 10,000 crore)
- Export direction (over Rs 14,500 crore)
Money will be spent here
The things that the government is considering under the Export Promotion Scheme includes interest support of more than Rs 5,000 crore for the next 6 years. Apart from this, promoting alternative trade finance options, providing credit cards for e-commerce exporters and other financial arrangements to remove cash flow shortage.
Similarly, the proposals included under the Export Disha Scheme include spending more than Rs 4,000 crore for the Foreign Market Development of about Rs 4,000 crore to follow the Export Quality Standards. In addition, branding, storage for exports and capacity building to integrate more and more Indian enterprises in global value chains.