Export Promotion Mission Must Be Fast-Tracked: CITI

ENA Sectors 2025-11-04 17:23:54 New Delhi, Nov 4 (KNN) The Confederation of Indian Textile Industry (CITI) has called for the prompt establishment of the Export Promotion Mission announced in the Union Budget for FY 2025-26, expressing confidence that the initiative will be operational soon. In her Budget speech on February 1, 2025, Finance Minister Nirmala Sitharaman had outlined the governments plan to set up the Export Promotion Mission with sector-specific and ministerial targets. The initiative is to be jointly driven by the Ministries of Commerce, MSME and Finance, aimed at facilitating access to export credit, cross-border factoring, and support for MSMEs in addressing non-tariff barriers. Having the Export Promotion Mission in place, preferably by the end of the year, will act as a huge confidence-booster for Indias exporter fraternity in the wake of the continued uncertainty around the date by which the US tariff issue will be resolved and the potential opportunities opening through the FTAs already signed by India and those on the anvil, CITI Chairman Shri Ashwin Chandran said. He added that the measure could help India harness opportunities from recently concluded and upcoming free trade agreements. The United States imposed a 50 percent tariff on Indian goods effective August 27, while India signed the Comprehensive Economic and Trade Agreement (CETA) with the UK in July and continues FTA negotiations with the European Union and others. Highlighting long-term potential, Chandran said the initiative could help resolve structural challenges and enhance Indias share in global trade, particularly in the textile and apparel sector. India currently ranks as the worlds sixth-largest exporter in the category, with a nearly 4 percent share in global trade, largely driven by micro, small and medium enterprises. However, near-term export performance remains weak. CITIs analysis shows that Indias textile exports declined 10.45 percent year-on-year in September 2025, while apparel exports dropped 10.14 percent. Overall textile and apparel exports for the month were down 10.34 percent from September 2024. (KNN Bureau) 43984 https://knnindia.co.in/news/newsdetails/sectors/export-promotion-mission-must-be-fast-tracked-citi 2025-11-04 17:23:54 knnindia.co.in Export Promotion Mission Must Be Fast-Tracked: CITI