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Union Budget 2025: Can The Export Promotion Mission Begin A New Era For D2C Brands?
In a major boost to the country’s export sector, finance minister Nirmala Sitharaman, during her eighth consecutive Union Budget speech on February 1, announced establishing an Export Promotion Mission to be driven jointly by the commerce, MSME and finance ministries.
“We will set up an Export Promotion Mission, with sectoral and ministerial targets, driven jointly by the Ministries of Commerce, MSME, and Finance. It will facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets,” the minister said, emphasising that exports are the fourth growth engine.
According to the Union minister, this mission will facilitate easy access to export credit, provide cross-border factory support, and help MSMEs tackle non-tariff measures in overseas markets.
To further boost global trade, Sitharaman also announced a digital public infrastructure, ‘BharatTradeNet’ (BTN), for international trade. This will be a unified platform for trade documentation and financing solutions and complement the Unified Logistics Interface Platform.
The minister on Saturday announced the establishment of this mission with an outlay of INR 2,250 Cr to boost the country’s outbound shipments.
According to the Economic Survey 2024-25, India’s total exports, including merchandise and services, recorded a steady 6% growth in the first nine months of FY25, reaching $602.6 Bn.
Services and goods exports, excluding petroleum, gems, and jewellery, grew by 10.4%. However, some sectors saw a slight moderation in export growth compared to the same period in FY24.
In the first nine months of FY25, India’s total exports, including merchandise and services, grew by 6%, reaching $602.6 Bn. Exports of services and goods, excluding petroleum and gems and jewellery, saw a 10.4% rise, according to the Economic Survey 2024-25.
“The Export Promotion Mission is a strong step towards making India’s brands globally competitive, and we believe this government has the vision and capability to make it a success,” said Anchit Kapil,........
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