Commerce Dept pushing to expedite export promotion mission amidst global uncertainty

NEW DELHI : To lend support to exporters as they face greater global uncertainty, the Commerce Department is trying to expedite Expenditure Finance Committee (EFC) clearance for the export promotion mission announced in Budget 2025 with an annual allocation of ₹2,240 crore.

The mission will include a number of schemes, such as interest equalisation and market promotion funds for exporters, especially taking care of the needs of the MSME sector, sources said.

“The Commerce Department is seeking a term of five years for the exports promotion mission as continuity in the schemes announced under the mission will provide stability to exporters in the uncertain global environment. Now it is for the EFC to decide what the term of the scheme will be,” an official tracking the matter told businessline.