Commerce and Industry Minister Piyush Goyal said that detailed guidelines of the Rs 25,060 crore Export Promotion Mission (EPM) are likely to be released from next week. It will contain complete information about all parts of the scheme and the benefits to the industry.
The government had approved this scheme of Rs 25,060 crore on November 12. The plan is for six financial years starting from 2025-26. Its purpose is to provide relief to exporters from the heavy duties of America. This mission will be implemented through two sub-schemes – Export Promotion (Rs 10,401 crore) and Export Direction (Rs 14,659 crore).
Goyal told PTI, the guidelines of the Export Promotion Mission will be released very soon. I think that by next week, complete information about all its parts and the benefits it will bring to the industry will be given.
Under this mission, priority will be given to those sectors which have been most affected by the recent global tariff increase. These include textiles, leather, jewellery, engineering goods and marine products. These sectors are facing huge challenges in the American market. India’s merchandise exports to the US declined by 8.58 percent to $6.3 billion in October due to higher import duties.
Goyal said, a big Russian delegation is coming on December 5. We are supporting the affected areas in different ways. The minister is currently in Israel. He is discussing ways to increase bilateral trade and investment with the 60-member delegation.
