Cabinet Approves ₹25,060 Crore Plan to Support Export Sectors Like Textiles, Leather, and Gems

The Cabinet has given its approval for a ₹25,060 crore Export Promotion Mission for six years, starting from this financial year. Information and Broadcasting Minister Ashwini Vaishnav said this on Wednesday. The Union Minister said interest subsidy will be given to MSME exporters under the Export Promotion Mission.

The Export Promotion Mission was approved by the government on Wednesday. An outlay of ₹25,060 crore has been sanctioned for this mission for a period of six financial years, commencing from the current financial year. The mission will be implemented through two sub-schemes: Export Promotion and Export Direction.

Information and Broadcasting Minister Ashwini Vaishnav stated that this is a very comprehensive mission and will support the entire export ecosystem. Sectors such as textiles, leather, engineering, marine, and gems, and jewellery will be prioritized under this mission.

This government move is expected to help domestic exporters weather the global trade uncertainties created by US President Donald Trump's tariffs. The US imposed a hefty 50 percent tariff on Indian goods from August 27th.