New Delhi, Dec 8 (NationPress) The government is implementing a comprehensive and integrated approach to enhance India's exports across various sectors. This strategy emphasizes tackling global market challenges and providing support to exporters, including MSMEs and smaller exporters, as reported to Parliament on Tuesday.

The approach includes improved infrastructure, digital transformation, financial assistance, and targeted market initiatives aimed at establishing a robust and competitive export ecosystem, according to Minister of State for Commerce and Industry, Jitin Prasada, during his address in the Lok Sabha.

In response to recent global trade challenges, the government is ramping up efforts through flagship schemes and specific sector interventions. The Union Budget allocates a total of Rs 25,060 crore for the fiscal years 2025-26 to 2030-31, aimed at fostering a flexible, comprehensive, and digital framework for export promotion that will strengthen key sectors such as textiles, engineering, pharmaceuticals, and agriculture.

Additionally, the Central government has launched the Credit Guarantee Scheme for Exporters (CGSE), which offers 100% credit guarantee coverage by the National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions (MLIs). This initiative will enable eligible exporters, including MSMEs, to access additional credit facilities of up to Rs 20,000 crore, thereby enhancing liquidity and ensuring smooth business operations while advancing India's Aatmanirbhar Bharat mission.

The Export Credit Guarantee Corporation of India (ECGC) has also introduced various measures to assist exporters, which include providing collateral-free coverage to encourage export credit among MSME exporters who are unable to offer collateral or third-party guarantees.

Through the International Cooperation Scheme managed by the Ministry of Micro Small and Medium Enterprises, financial assistance is available on a reimbursement basis to eligible Central and State government organizations and industry associations. This is designed to facilitate MSME participation in international exhibitions and buyer-seller meets abroad, as well as in hosting international conferences in India for technology upgrades and joint ventures.

Reimbursement is also provided to first-time micro and small exporters for expenses associated with Registration-cum-Membership Certification (RCMC) with Export Promotion Councils (EPCs), Export Insurance Premiums, and Testing & Quality Certification for exports.

The Bharat Trade Net (BTN), introduced in the Union Budget 2025, is another significant digital public infrastructure initiative developed by DGFT under the Ministry of Commerce & Industry. Its goals include digitizing trade documents, facilitating access to export finance, and aligning India's trade ecosystem with global standards, as highlighted by the minister.

Furthermore, the government is actively working to diversify India's export portfolio and minimize reliance on traditional markets by identifying and enabling access to new and emerging global markets. By leveraging Free Trade Agreements, the government aims to promote export diversification, having signed 15 Free Trade Agreements (FTAs) and 6 Preferential Trade Agreements (PTAs) with various trading partners.

The government is collaborating with all stakeholders to empower exporters to utilize the benefits of India's FTAs with significant markets such as Japan, Korea, and the UAE, and to effectively take advantage of opportunities arising from recently concluded FTAs with EFTA countries and the UK. Moreover, negotiations are ongoing for the early finalization of FTAs with nations and groups like the EU, Peru, Chile, New Zealand, and Oman, the minister added.