Inclusive Growth Key to Social Justice; AI and Emerging Technologies to Drive India’s Future Growth: Shri Piyush Goyal

Export Promotion Mission to Expand Market Access for MSMEs; India Records Double-Digit Export Growth in February: Shri Goyal

Niryat Protsahan Introduces Export Factoring, E-Commerce Credit and Emerging Market Support with Interest Subvention and Credit Guarantees for MSMEs

The Union Minister of Commerce and Industry, Shri Piyush Goyal, today launched seven additional interventions under the Export Promotion Mission (EPM), a flagship initiative of the Department of Commerce aimed at empowering Micro, Small and Medium Enterprises (MSMEs) for global markets. These interventions are designed to address key challenges faced by Indian exporters, promote broad-based and inclusive export growth, and strengthen India’s position as a globally competitive export powerhouse. Commerce Secretary, Shri Rajesh Agarwal, also graced the occasion.

Addressing the gathering on the occasion of World Day of Social Justice, Shri Goyal said that social justice requires reaching the last person at the bottom of the pyramid. He emphasised that inclusive growth, empowerment of the marginalised and providing opportunities to those left behind in India’s rapid transformation are essential to achieving true social justice.

The Minister highlighted India’s growing leadership in emerging technologies and global partnerships. Referring to the recently concluded AI Summit, he commended Prime Minister Shri Narendra Modi and the concerned Ministers for positioning India at the centre of global conversations on artificial intelligence and future technologies. He stated that advancements in artificial intelligence, machine learning, quantum computing, data centres and indigenous large language models would open significant opportunities for India’s youth and catalyse investments across sectors.

Shri Goyal underlined that India’s expanding network of Free Trade Agreements (FTAs) has significantly enhanced market access for Indian exporters. He noted that nearly 70 per cent of global GDP and two-thirds of global trade are now accessible to India through nine concluded FTAs, including the first tranche of the Bilateral Trade Agreement with the United States. These agreements provide preferential access across sectors in 38 developed and emerging economies.

The Minister stated that India today engages with developed economies with confidence, safeguarding sensitive sectors while securing gains in areas of competitive strength. Since 2022, India has accelerated trade engagements, expanded partnerships in goods, services and investments, reduced compliance burdens, decriminalised several laws and improved ease of doing business. He also referred to India’s successful hosting of the G20 Summit across multiple cities, showcasing the country’s diversity and economic potential.

Emphasising that the benefits of global trade must reach every MSME, startup and entrepreneur, Shri Goyal said the Export Promotion Mission is aimed at promoting new products, services and exporters, while enabling Indian businesses to access new markets. He noted that India has recorded double-digit growth in merchandise exports in the first half of February, reflecting strong market confidence and proactive industry participation.

He stated that the Mission seeks to simplify processes for MSMEs, strengthen access to credit, enhance quality standards, support compliance with international regulations and expand logistics and warehousing infrastructure globally. Initiatives such as overseas warehousing, including Bharat Mart in Dubai, are intended to provide Indian exporters with strategic access to markets across the GCC, Africa, Central Asia and Europe.

The Export Promotion Mission adopts a holistic ecosystem approach by combining financial enablers under ‘Niryat Protsahan’ and trade ecosystem support under ‘Niryat Disha’, delivered through a unified and digitally monitored framework.

The Mission is implemented by the Department of Commerce in coordination with the Ministry of MSME, Ministry of Finance, EXIM Bank, Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), National Credit Guarantee Trustee Company Limited (NCGTC), regulated lending institutions, Indian Missions abroad, EPCs and industry stakeholders.

The newly launched interventions aim to address structural constraints faced by MSMEs, including high cost of capital, limited access to diversified trade finance instruments, compliance burdens in international markets, logistics disadvantages, and barriers to market entry.

The interventions launched under Niryat Protsahan included:

1. Support for Alternative Trade Instruments (Export Factoring) - This intervention promotes export factoring as an affordable working capital solution for MSMEs. Interest subvention of 2.75% will be provided on the factoring cost for eligible transactions undertaken through RBI/IFSCA-recognised entities. Assistance is capped at ₹50 lakh per MSME annually and will be processed through a digital claim mechanism to ensure transparency and timely disbursal.

2. Credit Assistance for E-Commerce Exporters- To support exporters using digital channels, structured credit facilities are being introduced with interest subvention and partial credit guarantees. The Direct E-Commerce Credit Facility will provide support up to ₹50 lakh with 90% guarantee coverage. The Overseas Inventory Credit Facility will extend support up to ₹5 crore with 75% guarantee coverage. Interest subvention of 2.75% will be available, subject to an annual ceiling of ₹15 lakh per applicant.

3. Support for Emerging Export Opportunities- This intervention enables exporters to access new or high-risk markets through various shared-risk and credit instruments. These structured mechanisms aim to strengthen exporter confidence and liquidity flows.

Further, the following interventions were launched under Niryat Disha:

1. Trade Regulations, Accreditation & Compliance Enablement (TRACE)- TRACE supports exporters in meeting international Testing, Inspections, Certifications and other conformity requirements. Partial reimbursement of 60% under the Positive List and 75% under the Priority Positive List will be provided for eligible testing, inspection and certification expenses, subject to an annual ceiling of ₹25 lakh per IEC.

2. Facilitating Logistics, Overseas Warehousing & Fulfilment (FLOW)- FLOW supports exporters in accessing overseas warehousing and fulfilment infrastructure, including E-Commerce Export Hubs integrated with global distribution networks. Assistance of up to 30% of approved project cost will be provided for a maximum of three years, subject to prescribed ceilings and MSME participation norms.

3. Logistics Interventions for Freight & Transport (LIFT)- LIFT mitigates geographical disadvantages faced by exporters in low export intensity districts. Partial reimbursement of up to 30% of eligible freight expenditure will be provided, subject to a ceiling of ₹20 lakh per IEC per financial year.

4. Integrated Support for Trade Intelligence & Facilitation (INSIGHT)- INSIGHT strengthens exporter capacity-building, district and cluster-level facilitation under the Districts as Export Hubs initiative, and development of trade intelligence systems. Financial assistance is upto 50% of project cost, with upto 100% support for proposals from Central and State Government institutions and Indian Missions abroad, subject to notified ceilings.

Through these coordinated financial and ecosystem interventions, the Government aims to reduce cost of capital, diversify trade finance instruments, enhance compliance readiness, address logistics constraints and strengthen overseas market integration for MSMEs.

3 interventions — Market Access Support, Interest Subvention for Pre- and Post-Shipment Export Credit, and Collateral Support for Export Credit — are already under implementation. With this launch, 10 out of the 11 proposed interventions under EPM are now operational.

Representatives from State Governments, Export Promotion Councils and industry bodies including FIEO, EEPC, GJEPC, CII, FICCI, PHDCCI, ASSOCHAM and NASSCOM welcomed the initiative and expressed support for its effective implementation.