New Delhi, Feb 20 (NationPress) - On Friday, Commerce and Industry Minister Piyush Goyal unveiled seven new interventions as part of the Export Promotion Mission, a premier initiative by the Centre designed to empower micro, small, and medium enterprises (MSMEs) to compete effectively on the global stage.

These initiatives aim to tackle significant challenges faced by Indian exporters, foster inclusive export growth, and solidify India’s reputation as a formidable global export hub.

The minister highlighted that India now interacts with developed nations confidently, ensuring protection for sensitive sectors while maximizing advantages in areas where it excels.

Stressing the importance of extending the benefits of global trade to every MSME, startup, and entrepreneur, Goyal mentioned that the Export Promotion Mission is focused on advancing new products, services, and exporters, along with helping Indian businesses penetrate new markets. He noted that India has seen double-digit growth in merchandise exports during the first half of February, showcasing robust market confidence and active industry engagement.

The Mission aims to streamline processes for MSMEs, improve access to credit, elevate quality standards, assist in adhering to international regulations, and expand logistics and warehousing infrastructure worldwide. Initiatives like overseas warehousing, including the launch of Bharat Mart in Dubai, are designed to grant Indian exporters strategic access to markets across the GCC, Africa, Central Asia, and Europe.

Adopting a comprehensive ecosystem approach, the Export Promotion Mission integrates financial support through ‘Niryat Protsahan’ and trade ecosystem assistance via ‘Niryat Disha’, all managed through a unified and digitally monitored framework.

Implemented by the Department of Commerce in collaboration 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 introduced interventions aim to resolve structural challenges faced by MSMEs, such as high capital costs, limited access to diverse trade finance options, compliance issues in international markets, logistics hurdles, and market entry barriers.

Goyal also emphasized that India’s growing network of free trade agreements (FTAs) has significantly improved market access for Indian exporters. He pointed out that nearly 70% of global GDP and two-thirds of global trade are now accessible to India through nine completed FTAs, including the initial phase of the Bilateral Trade Agreement with the United States. These agreements offer preferential access across various sectors in 38 developed and emerging economies.