India’s Commerce Minister Piyush Goyal has greenlit seven innovative schemes under the Export Promotion Mission (EPM), a cornerstone effort to propel MSMEs into global export leagues. Launched Friday, these target systemic barriers, aiming for inclusive growth and enhanced competitiveness.
From financing innovations to logistics overhauls, the package is comprehensive: Alternative financing via factoring, e-commerce loans, emerging opportunity aids, TRACe compliance portal, FLOWS warehousing facilitation, LIFT transport subsidies, and INSIGHT intel platform.
Factoring support: 2.75% interest relief, ₹50 lakh cap per MSME, digitized. E-com: Up to ₹50 lakh (90% cover) direct, ₹5 crore (75% cover) inventory, 2.75% subsidy to ₹15 lakh/year. Risk-sharing unlocks tough markets.
TRACe: 60-75% back on testing/certification, ₹25 lakh/IEC limit. FLOWS: 30% project aid for 3 years. LIFT: 30% freight relief up to ₹20 lakh in focus districts. INSIGHT: 50-100% for district hubs and data systems.
Joining three ongoing measures, 10/11 EPM tools are operational. This multifaceted strategy empowers thousands of MSMEs, fostering a new era of export dynamism that could redefine India’s trade landscape and bolster economic resilience.