India Launches Rs 20,000 Crore Mission to Boost Exports

The Department of Commerce is shifting its strategic focus toward rapid export growth following a period of strengthening domestic manufacturing capacity. To support this transition, the government launched a five-year, Rs 20,000 crore Export Promotion Mission designed to provide exporters with market intelligence and assistance with regulatory compliance.

Chief FTA negotiator Darpan Jain announced that India's network of free trade agreements now provides access to an import market worth USD 12 trillion, covering over two-thirds of global trade. Jain noted a strategic shift since 2018 from shallow pacts to deep agreements encompassing goods, services, and digital trade to bypass steep duties on labor-intensive goods. These efforts include the India-EFTA TEPA, which carries a USD 100 billion investment pledge and tariff eliminations for electronics, textiles, and marine products.

To ensure increased production translates into higher exports, the government is developing industrial corridors and improving connectivity to ports. Additional Secretary Yashvir Singh stated that micro, small, and medium enterprises must improve product quality, reduce costs, and increase scale to leverage these new market accesses. Simultaneously, NITI Aayog has urged industry leaders to utilize the PM GatiShakti National Master Plan to optimize logistics and supply chain efficiency.