Govt Refocuses Export Promotion Mission To Aid Tariff-Hit Sectors

New Delhi, Aug 14 (KNN) The government is reworking its planned Export Promotion Mission to focus more sharply on sectors most affected by the recent US tariff hikes on Indian goods, according to The Hindu. 

The revised strategy aims to lower credit costs for Micro, Small, and Medium Enterprise (MSME) exporters in vulnerable industries, expedite clearances, and explore export incentive options. 

The initiative involves coordinated efforts across multiple ministries and close consultations with industry stakeholders.

According to an analysis by the Global Trade Research Initiative (GTRI), the US tariffs will hit apparel and textiles, shrimp exports, organic chemicals, and machinery and mechanical appliances the hardest. 

Originally envisaged as a joint effort between the Ministries of Commerce, Finance, and MSME, the Export Promotion Mission will now also coordinate with the Ministry of Textiles and the Department of Fisheries.

The initial Budget blueprint had outlined support for easier export credit access, cross-border factoring, and help for MSMEs in addressing non-tariff measures in overseas markets. 

These elements will remain, but with an added focus on cushioning the impact of the US tariffs. The government is also reviewing its existing MSME credit guarantee scheme—announced in January and covering loans up to Rs 100 crore—to align it more closely with exporters’ needs.

Industry representatives confirmed that the Ministry of Commerce and Industry has been actively engaging with exporters to gather feedback, a process echoed by trade analysts. 

(KNN Bureau)