In a bold move to rev up India’s export engine, Commerce Minister Piyush Goyal rolled out seven new tools under the Export Promotion Mission (EPM) today. Aimed squarely at MSMEs, this Commerce Ministry drive is all about equipping small businesses to thrive internationally amid fierce global competition.
The challenges are real—cash flow crunches, compliance mazes, logistics logjams—but these initiatives cut through them. Export factoring gets a subsidy boost for cheap financing, e-commerce sellers snag credit with guarantees, and high-risk markets open up via risk-sharing. TRACe simplifies global standards, FLOWS streamlines overseas storage, LIFT eases transport in remote areas, and INSIGHT delivers smart trade data.
Diving deeper, export factoring subsidizes 2.75% interest via approved channels, max ₹50 lakh yearly per MSME, all digital. E-com credit: ₹50 lakh direct with 90% guarantee, ₹5 crore inventory with 75%, plus 2.75% subsidy up to ₹15 lakh/year. Emerging opportunities use innovative finance to de-risk ventures.
TRACe refunds 60% (or 75% for priority) on certifications, capped at ₹25 lakh/IEC. FLOWS funds 30% of warehousing setups for three years. LIFT reimburses 30% freight in low-export zones, up to ₹20 lakh/financial year. INSIGHT covers up to 50% (100% for some) on intel and district export hubs.
Previously launched measures like shipment-linked interest equalization and collateral support are humming along. Now, with 10 of 11 EPM pillars operational, MSMEs stand taller. This isn’t just policy—it’s a launchpad for India’s SMEs to dominate world trade, driving economic growth from grassroots to global stages.