Govt To Bear Full Certification Costs For Micro, Small Exporters Under EPM: Piyush Goyal

New Delhi, Oct 23 (KNN) The government is willing to bear the entire cost of export-related certifications for micro and small enterprises under the Export Promotion Mission (EPM), Commerce and Industry Minister Piyush Goyal said on Friday, urging existing and prospective exporters to approach the Directorate General of Foreign Trade (DGFT) to access the support.

Addressing a press conference in Berlin, Goyal said the initiative aims to help smaller businesses overcome high certification and compliance costs while entering international markets.

He noted that the government would also support exporters facing expensive certification requirements, with assistance for other businesses provided on a graded basis.

“Micro and small businesses—we are willing to literally take care of the entire cost of certification and others also, if there is some very expensive certification or process, we are happy to support them through the Export Promotion Mission,” Goyal said, as quoted by ANI.

He added that the government was exploring the approval of verification agencies in India to reduce compliance costs related to international regulations, including the European Union's Carbon Border Adjustment Mechanism (CBAM) and deforestation requirements.

India-Germany Trade Opportunities

Highlighting economic ties between India and Germany, Goyal said around 2,000 Indian companies operate in Germany, with some maintaining a presence for nearly a century.

He called for stronger cooperation between Indian MSMEs and German businesses, particularly in areas involving technical and metal standards.

Goyal also highlighted India's growing export potential in high-technology products, agriculture and fisheries, with exports of agricultural and fisheries products reaching around Rs 5 lakh crore.

India currently exports around 10 lakh vehicles annually, mainly to Japan, Latin America and Africa, and has the potential to increase shipments to 50 lakh vehicles, he said. Goyal expressed confidence that Indian-made cars would enter European markets soon.

(KNN Bureau)