In a bold stride towards export dominance, Union Minister Piyush Goyal launched seven innovative interventions Friday under the flagship Export Promotion Mission. Tailored for MSMEs, these steps are set to supercharge India’s small business sector for international success.
Designed to overcome persistent exporter pain points, the initiatives promise broader, more inclusive export expansion. ‘India is linking confidently with advanced economies,’ Goyal declared, balancing protection for vulnerable areas with gains in high-potential fields. The goal? Ensure global trade benefits flow to every MSME, startup, and entrepreneur.
Spotlighting the mission’s thrust on novel products, services, fresh exporters, and virgin markets, Goyal noted a robust double-digit surge in merchandise exports midway through February. This reflects surging trust and proactive industry involvement.
Practical enhancements target MSME ease: streamlined procedures, amplified loan availability, upgraded quality benchmarks, regulatory guidance, and scaled-up international logistics networks. The Dubai-based ‘India Mart’ warehousing hub exemplifies this, bridging exporters to lucrative GCC, African, Central Asian, and European markets.
Seamlessly blending ‘Niryat Protsahan’ funding with ‘Niryat Darshak’ advisory services in a tech-driven ecosystem, the mission unites multiple stakeholders—from ministries and banks to global embassies and trade associations.
These interventions dismantle deep-rooted obstacles like exorbitant funding, trade credit shortages, compliance mazes, supply chain snags, and market penetration walls. Complementing this are India’s nine FTAs, including the initial phase with the US, granting prime access to 70% of world GDP across diverse economies.