The Modi government has announced a $5.1 billion Export Promotion Mission (EPM) along with an expanded Credit Guarantee Scheme to boost India’s export competitiveness amid tough global trade conditions. The initiative, approved by the Union Cabinet, will run from fiscal year 2025–26 through 2030–31, integrating multiple export support programs into one streamlined framework aimed at making India’s exports more resilient and globally competitive.
The EPM seeks to modernize India’s export strategies by merging existing initiatives such as the Interest Equalisation Scheme (IES) and Market Access Initiative (MAI). The focus is on key sectors hit hardest by recent US tariff hikes, including textiles, leather, gems and jewelry, marine products, and engineering goods. Through targeted support, the mission aims to sustain export orders, protect employment, and encourage diversification into new markets.
A hallmark of the initiative is its digital-first approach, designed to make export-related information and resources easily accessible. By addressing structural challenges—such as limited access to trade finance, high compliance costs, and weak global branding—the EPM aims to strengthen India’s position in international markets.
The mission comprises two sub-schemes: Niryat Protsahan and Niryat Disha. Niryat Protsahan focuses on providing financial assistance to micro, small, and medium enterprises (MSMEs) through interest subsidies, alternative financing tools, and collateral-free credit for pre- and post-shipment needs. Niryat Disha, meanwhile, is centered on quality enhancement, compliance with international standards, and improving logistics and warehousing facilities. It will help exporters participate in global trade fairs, improve packaging and branding, and lower logistics costs to boost India’s export identity.
Alongside the EPM, the Cabinet has also approved the expansion of the Credit Guarantee Scheme for Exporters, offering full coverage through the National Credit Guarantee Trustee Company Limited (NCGTC). This scheme will extend additional credit support of up to $227 million to eligible exporters, including MSMEs, under the supervision of the Department of Financial Services (DFS).
These measures are expected to improve liquidity, stabilize export operations, and enhance India’s global trade performance. With exports forming a key pillar of India’s economic growth and job creation, the government’s goal remains clear—to position India as a major global trade hub and achieve the ambitious target of $1 trillion in exports in the coming years.
