The government plans to announce support measures under the proposed ₹ 2,250 crore export promotion mission to help insulate industry stung by the global trade uncertainties arising from Trump tariffs, an official said.
“We are in dialogue with exporters to see how we can support them best in different ways. We are looking at how to give a boost to domestic consumption,” 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 had announced setting up of the mission with an outlay of ₹2,250 crore on February 1.
The Directorate General of Foreign Trade has already made a presentation on the mission to the representatives of export promotion councils and other key stakeholders on April 30.
According to industry officials, the mission is divided into two broad categories - Providing Trade Finance Support (Niryat Protsahan) and Driving International Holistic Market Access (Niryat Disha) Initiative.
Sources have earlier stated that the GST Council is likely to meet soon to discuss rate simplification and rationalisation, and the future of the compensation cess. It will help boost domestic consumption.
The commerce ministry, in the past few days, 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. The industrydemanded financial assistance and interest subvention.
India’s exports remained flat at $35.14 billion in June, while the trade deficit narrowed to a four-month low of $18.78 billion during the month.
Key export sectors, including petroleum, fabrics, gems and jewellery, leather, iron ore and coffee, recorded negative growth during June. During April-June 2025-26, exports increased 1.92 per cent to $112.17 billion, while imports rose 4.24 per cent to $179.44 billion.
Majority of the $86.5 billion annual export to the US will become unviable in the face of competition from countries who have received a better tariff deal from the US.
While the government works out package to aid the industry, there is also hope that India would be able to reach a deal with the US and bring down punitive duty from 50 per cent.