NEW DELHI, Aug 13: The expenditure finance committee will soon take up the commerce ministry’s proposed Rs 2,250 crore export promotion mission for its consideration, an official said on Wednesday.
The mission would help insulate domestic exporters from global trade uncertainties arising from Trump tariffs.
“The committee, under the finance ministry, will soon take up the proposal. After its approval, it will go to the Cabinet,” the official said.
The mission may include components, such as easy credit schemes for MSME and e-commerce exporters, facilitation of overseas warehousing, and global branding initiatives to tap emerging export opportunities.
The government, on February 1, announced the setting up of the mission with an outlay of Rs 2,250 crore.
The commerce ministry has held a series of stakeholder meetings to understand the challenges which they are facing due to high US tariffs on Indian goods.
US President Donald Trump has announced 50 per cent tariffs on India.
Sectors like textiles, chemicals, leather and footwear are expected to be hit hard by these duties.
India’s exports remained flat at USD 35.14 billion in June due to global economic uncertainties, while the trade deficit narrowed to a four-month low of USD 18.78 billion during the month.
Key export sectors, including petroleum, fabrics, gems and jewellery, leather, iron ore, oil seeds, cashew, spices, tobacco, and coffee, recorded negative growth during June.
During April-June 2025-26, exports increased 1.92 per cent to USD 112.17 billion, while imports rose 4.24 per cent to USD 179.44 billion. (PTI)
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