A government support policy that had been announced on February 1, 2025, may soon be rolled out to support a flagging industry threatened to be hit by heightened tariffs imposed by the US administration.
The mission, with an outlay of ₹2,250 crore, was presented by the Directorate General of Foreign Trade (DGFT) and may include support mechanism such as easy credit schemes for MSMEs and e-commerce exporters, facilitation of overseas warehousing, and global branding initiatives to tap emerging export opportunities.
"We are in dialogue with exporters to see how we can support them best in different ways, like ease of doing business. We are looking at how to give a boost to domestic consumption. We are looking at new supply chains, which we can capture, new markets, and new products," an official of the government said.
According to industry officials, the mission is divided into two broad categories - Providing Trade Finance Support (NIRYAT PROTSAHAN) and Driving International Holistic Market Access (NIRYAT DISHA) Initiative.
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Last month, it came to light that the GST Council may soon hold a meeting to discuss rate simplification and rationalisation, and the future of the compensation cess.
With US President Donald Trump announcing this past week that tariffs on Indian imports will be hiked to 50 per cent, the Indian commerce ministry officials have been reaching out to key stakeholders and representatives of export promotion councils to understand ways to face the upcoming challenges.
Sectors like textiles, chemicals, leather and footwear are expected to be hit hard by these duties.
In June, India's exports remained flat at USD 35.14 billion due to global economic headwinds, while Key export sectors, including petroleum, fabrics, gems and jewellery, leather, iron ore, oil seeds, cashew, spices, tobacco, and coffee, recorded negative growth.
In the same period, India’s trade deficit narrowed to a four-month low of USD 18.78 billion.
During April-June 2025-26, exports increased 1.92 per cent to USD 112.17 billion, while imports rose 4.24 per cent to USD 179.44 billion.
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