Piyush Goyal Launches 7 New Measures to Power MSME Exports

The Centre on Friday launched seven new interventions under the Export Promotion Mission, a flagship initiative aimed at strengthening the global competitiveness of India’s micro, small, and medium enterprises (MSMEs). Commerce and Industry Minister Piyush Goyal stated that the mission seeks to empower exporters, promote new products, and expand India’s footprint in international markets.

Goyal highlighted that India has witnessed double-digit growth in merchandise exports in early February, reflecting the confidence of global markets in Indian businesses. He added that the mission focuses on simplifying processes, enhancing quality standards, providing trade finance, and supporting compliance with international regulations.

The interventions include initiatives such as overseas warehousing, exemplified by Bharat Mart in Dubai, providing Indian exporters strategic access to markets across the GCC, Africa, Central Asia, and Europe. This approach aims to reduce logistics constraints and ease entry barriers for MSMEs in key global markets.

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The Export Promotion Mission combines financial support under ‘Niryat Protsahan’ and trade ecosystem services under ‘Niryat Disha,’ implemented through a unified digital framework. Key stakeholders include the Ministry of MSME, EXIM Bank, Credit Guarantee Fund Trust, NCGTC, regulated lending institutions, Indian Missions abroad, and export promotion councils.

Addressing structural challenges faced by MSMEs, Goyal noted that the new measures aim to tackle high capital costs, limited access to trade finance, and compliance burdens in international markets. These interventions are expected to create a level playing field for smaller exporters alongside large enterprises.

The minister further emphasized that India’s expanding network of free trade agreements (FTAs), covering 38 developed and emerging economies, has enhanced market access for exporters. Nearly 70 per cent of global GDP and two-thirds of global trade are now accessible to India through these agreements, including preferential access under the new Bilateral Trade Agreement with the United States.

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