Govt working on scheme to promote new exporters, markets, products

Encouragement may also be given for developing new markets and exporting new products
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With an eye on the goods exports target of $1 trillion by 2030 the government is working on a scheme to encourage new entities, including start-ups, get into exports and also promote new markets and products, sources said.

“The government is formulating a scheme to encourage new entities, including startups, get into exports. Some benefits are being explored such as extending more interest equalisation to these entities in addition to hand holding support through various processes,” a source tracking the matter told businessline. 

Encouragement may also be given for developing new markets and exporting new products, the source added. “If an exporter is looking at tapping a relatively new market, support such as provision of warehousing facilities in that market may be extended by the government. Similar support is likely to be given to encourage export of new products,” the source said.

New scheme

The details of what all could be provided under the scheme for encouraging new exporters, new markets and new products are still being chalked out. “Hopefully, the scheme would be ready in a couple of months. This would be in alignment with the government’s export promotion mission announced in budget 2025,” the source said.

On February 1, Finance Minister Nirmala Sitharaman announced the setting up of an export promotion mission with an outlay of ₹2,250 crore to push exports. The government said it would facilitate exporters to get easy access to credit, cross-border factoring support, and support MSMEs to tackle non-tariff measures in overseas markets.

With India’s exports of goods in FY 25 likely to stay flat after a 3 per cent decline in FY 24 to $437 billion, exporters would appreciate more support to help them deal with challenges in a hostile global market.

The BJP government has set an export target of $ 1 trillion each for goods and services by 2030.

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Published on April 14, 2025