Commerce Minister Piyush Goyal made headlines Friday by inaugurating seven strategic interventions via the Export Promotion Mission, a cornerstone government drive to fortify MSMEs for worldwide competition.
Crafted to erase key exporter barriers, these measures drive comprehensive export acceleration and cement India’s global trade stature. Goyal underscored India’s assured ties with mature economies, protecting sensitivities while championing competitive edges. ‘Global trade dividends must reach every MSME and innovator,’ he affirmed.
The mission prioritizes emerging products, services, novice exporters, and novel destinations. Buoyed by double-digit export growth in early February, it underscores market optimism and sectoral vigor.
MSMEs stand to gain from simplified operations, expanded financing, fortified standards, compliance support, and bolstered overseas logistics infrastructure. Standouts include foreign warehousing like Dubai’s ‘India Mart’, offering tactical entry to GCC, Africa, Central Asia, and Europe.
Unified under digital oversight, it merges ‘Niryat Protsahan’ incentives with ‘Niryat Darshak’ mentorship, backed by Commerce, MSME and Finance Ministries, EXIM Bank, guarantee trusts, lenders, diplomatic outposts, and industry forums.
Targeting entrenched issues—steep capital expenses, finance gaps, norm adherence hurdles, logistics woes, and market ingress blocks—these fixes are timely. India’s FTA web, spanning nine pacts and touching 70% global GDP, further amplifies opportunities across 38 advanced and emerging markets.