The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Export Promotion Mission (EPM) with an outlay of over 25 thousand crore rupees. This is a flagship initiative, announced in the Union Budget 2025-26 to strengthen India’s export competitiveness, particularly for MSMEs, first-time exporters, and labour-intensive sectors.
Briefing the media in New Delhi today, Information and Broadcasting Minister Ashwini Vaishnaw said that the mission will provide a comprehensive, flexible, and digitally driven framework for export promotion, for Financial Year 2025-26 to Financial Year 2030-31. He added that EPM marks a strategic shift from multiple fragmented schemes to a single, outcome-based, and adaptive mechanism that can respond swiftly to global trade challenges and evolving exporter needs.
The Cabinet today also approved introduction of Credit Guarantee Scheme for Exporters, CGSE. It will provide 100 per cent credit guarantee coverage by National Credit Guarantee Trustee Company Limited NCGTC to Member Lending Institutions MLIs for extending additional credit facilities upto 20 thousand crore rupees to eligible exporters, including MSMEs. Briefing media I&B Minister Ashwini Vaishnaw said, the scheme shall be implemented by Department of Financial Services through NCGTC to provide additional credit support by MLIs to the eligible exporters including MSMEs. A management Committee formed under the chairmanship of Secretary, DFS will oversee the progress and implementation of the scheme.
The Scheme is expected to enhance the global competitiveness of Indian exporters and support diversification into new and emerging markets. By enabling collateral-free credit access under CGSE, it will be strengthen liquidity, ensure smooth business operations, and reinforce India’s progress towards achieving the one trillion dollar export target. This will further reinforce India’s journey towards Aatmanirbhar Bharat.
The Government has also approved to revise the royalty rate of caesium, Graphite, Rubidium and Zirconium. Mr. Ashwini Vaishnaw said, this will promote auction of mineral blocks containing Caesium, Rubidium and Zirconium and associated critical minerals found with them, such as Lithium, Tungsten, REES, Niobium etc. Increase in indigenous production of these minerals would lead to reduction in imports and supply chain vulnerabilities and also generate employment opportunities in the country.
