Commerce and Business Minister Piyush Goyal mentioned pointers for the Export Promotion Mission (EPM) value Rs 25.06 billion are prone to be launched from subsequent week, detailing its content material and advantages to the business.
The federal government on November 12 accepted an EPM to disburse Rs 25,060 crore over six monetary years to 2025-26 to assist exporters address the excessive tariffs imposed by the US.
The mission shall be carried out by way of two sub-schemes: Niryat Protsahan (Rs 10,401 crore) and Niryat Disha (Rs 14,659 crore).
“Tips for the export promotion mission shall be introduced quickly. I feel the small print, together with its parts and the way the business will profit, shall be introduced subsequent week,” he mentioned. P.T.I..
Below the Export Promotion Mission, precedence help shall be prolonged to sectors affected by latest world tariff hikes, together with textiles, leather-based, gems and jewelry, engineering merchandise and seafood.
These areas face challenges within the US market. India’s merchandise exports to the US fell 8.58% to $6.3 billion in October attributable to excessive import duties.
The US has imposed a hefty 50% tariff on Indian merchandise since August twenty seventh. In the meantime, the 2 nations are negotiating a bilateral commerce settlement.
Concerning the decline in exports to the US, Goyal mentioned there was a decline in three to 4 sectors and the ministry was working to assist exporters diversify their commerce.
Giving the instance of shrimp, he mentioned the European Union had accepted the addition of 108 nationwide fishing items to provide seafood to the EU.
Russia additionally acknowledges 25 fishing organizations in India.
“There may even be a big delegation from Russia approaching December 5. Due to this fact, we’re working to help the affected sectors in varied methods,” Goyal mentioned.
The minister is visiting Israel to satisfy with leaders and companies to debate methods to spice up bilateral commerce and funding. He’s main a 60-person enterprise delegation.
Below EPM Niriyat Protsakhan, the main target shall be on bettering MSMEs’ entry to reasonably priced commerce finance by way of varied devices, together with curiosity subsidy, export factoring, collateral ensures, bank cards for e-commerce exporters, and credit score enhancement help to diversify into new markets.
Equally, beneath Niriyat Disha, the funds shall be used for non-financial enablers akin to help for worldwide branding, packaging, commerce truthful participation, export warehousing and logistics, inland transportation reimbursement, and commerce intelligence and capability constructing initiatives.
India’s exports in October fell 11.8% to $34.38 billion attributable to excessive tariffs imposed by the USA, whereas the commerce deficit widened to a document $41.68 billion, primarily attributable to a surge in gold imports.
In accordance with information launched by the federal government, the nation’s import worth elevated by 16.63% to a document $76.06 billion attributable to greater imports of yellow metallic, silver, cotton uncooked/waste, fertilizer and sulfur.
Exports for the April-October interval of this fiscal yr elevated barely by 0.63% to $254.25 billion, whereas imports elevated by 6.37% to $451.08 billion.
The merchandise commerce deficit for April-October 2025 was $196.82 billion, in comparison with $171.4 billion for a similar interval from April-October 2024.
Important contractions had been seen in key sectors akin to engineering merchandise, petroleum merchandise, gems and jewelry, attire and textile merchandise, natural and inorganic chemical substances, prescribed drugs, and plastic merchandise, weighing down general export efficiency.
Handicrafts, carpets, leather-based, iron ore, tea, rice, tobacco, spices and oil cake additionally recorded detrimental development in exports in October.
The US has imposed excessive tariffs of fifty% on Indian merchandise, impacting the nation’s exports.
issued – November 23, 2025 12:25 PM IST
