The commerce, MSME and finance ministries will work together to identify various sectors—which will require maximum capital support for technology upgradation, marketing, brand building, and accessing newer markets—to boost exports, Union Minister said. He said that issues which could be part of the mission include ways to extend credit to the exporting community at affordable rates. The government on Saturday announced setting up an Export Promotion Mission with an outlay of Rs 2,250 crore to promote the country's outbound shipments.
The mission will driven jointly by the Ministries of Commerce, , and Finance. It will facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures (NTMs) in overseas markets. "The Finance Minister has given flexibility for export promotion.
All three ministries will work together and design that which all sectors really need support," Goyal told . He said that announcements of the will help boost domestic manufacturing and exports from sectors like textiles, marine, toys and leather. "The three ministries will be working as a team to see which are the areas, which require maximum support in terms of availability of capital, funding, in terms of tech upgradation in terms of marketing, brand building, access to newer markets, and promotion of newer products.
It is an omnibus scheme. It gives a lot of flexibility for promoting exports," the commerce and industry minister said. On th.