On March 4, 2025, NITI Aayog hosted a Post-Budget Webinar focusing on the Union Budget 2025-26, with a significant emphasis on Manufacturing, Exports, and Nuclear Energy. Prime Minister Narendra Modi highlighted the government’s commitment to enhancing India’s export ecosystem through innovative strategies. The session gathered industry leaders and policymakers to discuss the Export Promotion Mission and various initiatives aimed at boosting India’s global trade competitiveness.
- Prime Minister Modi emphasized innovation to enhance India’s export ecosystem.
- The proposed Export Promotion Mission aims to provide Rs 22 billion in support for MSMEs.
Key Insights from the Export Session
The Export session, led by the Ministry of Commerce and moderated by Shri Sanjay Nayyar of ASSOCHAM, featured prominent figures such as Shri Rajesh Nambiar from NASSCOM and Ms. Nivruti Rai from Invest India. Their discussions centered on strategies to enhance India’s export competitiveness and integrate the country into the global trade landscape. A crucial highlight of the session was the proposed Export Promotion Mission (EPM), which aims to allocate Rs 22 billion targeting MSME export enhancement. This initiative focuses on providing financial incentives, facilitating market access, and ensuring compliance support to boost the export capabilities of small and medium enterprises.
Furthermore, the panelists underscored the necessity of a collaborative government approach to overcome market access challenges. Recommendations included expanding the Export Credit Guarantee Corporation (ECGC) coverage to high-risk markets and enhancing collateral-free export credit through EXIM Bank. The discussions also emphasized the importance of incentivizing MSMEs to adopt global sustainability standards, which are essential for maintaining competitiveness in international markets. By expanding programs such as the Export Readiness Programmes and the E-Commerce Niryat Credit Card Scheme, stakeholders believe that MSMEs can be better equipped for digital trade.
Digital Trade Ecosystem and Infrastructure Initiatives
Another focal point of the discussions was the BharatTradeNet (BTN), an ambitious Digital Public Infrastructure initiative intended to establish a seamless electronic trade ecosystem. Stakeholders advocated for BTN to serve as the digital backbone for trade, suggesting integration with Aadhaar, DigiLocker, UPI, and financial institutions for streamlined trade finance approvals. The establishment of a Central Trade Registry and the enhancement of State/District Export Cells were proposed as vital steps to facilitate exports further. Additionally, expanding Buyer-Seller Meet (BSM) programs could help streamline connections between exporters and potential buyers.
The session also called for the expansion of Global Capability Centres (GCCs) beyond Tier-1 cities, emphasizing the need for regulatory reforms, tax incentives, and improved infrastructure. The adoption of the GIFT City model for emerging Tier-2 cities was highlighted as a strategic move to boost local economies. Key takeaways included the importance of employment generation, rationalizing transfer pricing, and developing digital infrastructure to support the growing export ecosystem. The session concluded with remarks from Union Minister Shri Jitin Prasada, reiterating the government’s commitment to fostering a globally competitive export environment.
Looking Ahead: The Future of India’s Export Sector
India’s export sector is set for significant growth, driven by an emphasis on digital trade, supply chain resilience, and empowering MSMEs. The focus on initiatives like BharatTradeNet aligns with global trade facilitation trends, ensuring that Indian businesses can compete effectively in a digital economy. With robust policy support and improved access to export financing, India stands ready to expand its presence in international markets.
