The Export Promotion Mission (EPM) and the credit guarantee scheme for exporters (CGSE) approved by the Union Cabinet on Wednesday (November 12, 2025) has been welcomed by exporter bodies and trade experts, but there is room for more to be done, and higher allocations to be made, some of them say.
The Union Cabinet on Wednesday approved the EPM, which had been initially announced in Budget 2025. The total outlay of the Mission is ₹25,060 crore and will cover the period 2025-26 to 2030-31. The CGSE aims to provide 100% credit guarantee coverage totaling ₹20,000 crore to lenders on loans they extend to eligible exporters, including MSMEs.
“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 government said in a release.
According to the government, the EPM is expected to ease access to affordable trade finance for MSMEs, enhance export readiness through compliance and certification support, and improve market access for Indian products in foreign markets, among other things.
Will enhance doing business
“It will greatly enhance the ease of doing business and strengthen India’s export competitiveness,” Kirit Bhansali, Chairman of the Gem and Jewellery Export Promotion Council said. “The inclusion of key measures such as interest subvention and expanded support for trade fairs will particularly empower MSMEs and first-time exporters, fostering wider global outreach and sustainable growth.”
Pankaj Chadha, chairman of the Engineering Exports Promotion Council, too, lauded the scheme for its aim to enhance the ease of doing business for exporters, and for the engineering sector in particular.
“The EPM has given priority to the engineering goods sector along with other sectors which have been hit hard by the disruptive global trade policy, especially the high 50% tariff imposed by the US on most items of India’s trade basket,” Mr. Chadha said.
He added that the EMP will help exporters identify new markets and introduce new products while the credit guarantee scheme would ensure affordable trade finance, especially for MSMEs.
“By focusing on innovation, diversification, and sustainability, the Mission will help Indian exporters regain momentum and reinforce India’s position as a resilient and reliable player in global trade,” Manoj Mishra, Partner at Grant Thornton Bharat said.
Inadequate step, not enough details
Other trade experts, however, are not as sanguine about the Mission, saying that it does not include enough details of how it would function, and that the quantum of money allocated is not enough.
“Despite its promise, the Mission faces several weaknesses,” Ajay Srivastava, former Director General of Foreign Trade and founder of Global Trade Research Initiative said. “Although announced in February, EPM is still only a broad framework. It now needs to be translated into detailed schemes with precise guidelines specifying eligibility, processes, and disbursal rules.”
Mr Srivastava said that doing all of this, including setting up a new online system would mean it could take months before exporters receive any benefit.
He added that funding of the Mission remains a concern.
“The Mission’s total outlay of ₹25,060 crore over six years is less than ₹4,200 crore per year,” Mr. Srivastava said. “The financial resources do not match the Mission’s ambition.”
Piyush Doshi, operating partner at the Foundation for Economic Development said that the government would be better placed with a targeted approach rather than spreading its resources across a large number of beneficiaries.
“For this to be most effective, the government must provide meaningful support to select exporters and increase support linked to performance rather than fragmenting it over a very large number of players where nobody reaches critical mass,” Mr. Doshi said.
He further said that the conditions for availing of the support under the Mission should be based on trust rather than on a long process with extensive paperwork.
Published – November 13, 2025 08:02 pm IST
