Government to set up export promotion mission with outlay of Rs 2,250 crore
Finance Minister Nirmala Sitharaman has said that the government will set up an Export Promotion Mission with an outlay of Rs 2,250 crore to promote the country's outbound shipments. Three ministries - commerce, MSME, and finance - will work on rolling out of this mission. Through the mission, the government will facilitate exporters to get easy access to credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets.
The minister said a digital public infrastructure, 'BharatTradeNet' (BTN) for international trade will be set up as a unified platform for trade documentation and financing solutions. This will complement the Unified Logistics Interface Platform. The BTN will be aligned with international practices. It will be new Digital Public Infrastructure to be a part of the India Stack, which currently include products such as UPI, Aadhaar, ONDC, and DigiLocker.
According to the ministry, it will be designed to digitise, streamline, and modernise India's international trade ecosystem. It aims to eliminate paper-based processes, improve trade finance access, and enhance regulatory compliance by integrating key stakeholders such as Customs, DGFT, GSTN, banks, and exporters into a unified digital platform. To boost MSME exports, the Budget also announced revision of MSME classification criteria. She said exporter MSMEs can avail of increased credit benefits from Rs 5 crore to Rs 10 crore, generating additional credit of Rs 1.5 lakh crore in the next five years.
