New Delhi witnessed a major push for small businesses on Friday as Commerce and Industry Minister Piyush Goyal unveiled seven groundbreaking interventions under the Export Promotion Mission. This ambitious government program aims to empower Micro, Small, and Medium Enterprises (MSMEs) to compete fiercely on the global stage.
These initiatives directly tackle the core hurdles Indian exporters face, from limited market access to logistical bottlenecks. By fostering inclusive growth, they seek to elevate India’s position as a global export powerhouse. Goyal emphasized that India is now confidently engaging with developed economies, safeguarding sensitive sectors while securing advantages in competitive ones.
The minister highlighted the mission’s focus on onboarding new products, services, and exporters while opening doors to untapped markets. Early signs are promising: India’s merchandise exports grew in double digits in the first half of February, signaling strong market confidence and industry enthusiasm.
Key measures include simplifying processes for MSMEs, enhancing credit access, bolstering quality standards, aiding compliance with international norms, and expanding global logistics and warehousing. Projects like ‘India Mart’ in Dubai will provide strategic gateways to GCC countries, Africa, Central Asia, and Europe.
The mission integrates financial aid under ‘Niryat Protsahan’ and business support via ‘Niryat Darshak’ into a seamless digital framework. It’s a collaborative effort involving the Commerce Ministry, MSME Ministry, Finance Ministry, EXIM Bank, CGTMSE, NCGTC, banks, overseas missions, and industry bodies.
Addressing structural challenges head-on, these steps mitigate high capital costs, scarce trade finance, regulatory complexities, logistics issues, and entry barriers to new markets. Goyal also pointed to India’s expanding Free Trade Agreements (FTAs), now covering nearly 70% of global GDP and two-thirds of world trade across 38 economies, unlocking preferential access in key sectors.