12-Point Plan To Push Exports Including MSME
EPM for facilitation of overseas warehousing, global branding initiatives
12-Point Plan To Push Exports Including MSME
New Delhi: The Union Commerce Ministry's Export Promotion Mission (EPM) is expected to feature up to 12 components, including easy credit schemes for MSME, e-commerce exporters, facilitation of overseas warehousing, and global branding initiatives, to tap emerging export opportunities and strengthen trade tools for small businesses, an industry official said.
The Directorate General of Foreign Trade (DGFT) showed a presentation on this mission to the representatives of export promotion councils and other key stakeholders on April 30. The DGFT has also sought the views of the councils on this before finalising the schemes under this mission.
The EPM is divided into two broad categories - Providing Trade Finance Support (NIRYAT PROTSAHAN); and Driving International Holistic Market Access (NIRYAT DISHA) Initiative. Under NIRYAT PROTSAHAN, six sub-schemes are under consideration; the Niryat Rin Vikas (NIRVIK) Sub-Scheme for MSMEs and new exporters; Support for Emerging Export Opportunities; Support for Trade Instruments for MSMEs; Collateral Support for Export Credit for MSME exporters; E-commerce Export Credit Card Sub-Scheme; and BharatTradeNET, the official said.
Similarly in the NIRYAT DISHA initiative, there are also six elements.
These are Technical Regulations and Compliance Enablement (TRACE); Focussed Market Access Initiative (FMAI); Facilitating Export Logistics and Overseas Warehousing (FLOW); Global Outreach for Branding Exports (GLOBE); Export Planning and Development for Districts and Clusters (EXPAND); R&D Support Sub-Scheme for India Centre for Lab Grown Diamond (InCent-LGD) at IIT Madras, Chennai. The official added that these sub-schemes will be implemented through a digitally enabled application and monitoring system, anchored around an online 'intent to claim' process. The objective of the NIRVIK sub-schemes is to establish a dynamic and responsive interest equalisation support framework that enables MSMEs to access export credit in rupee (INR) at globally competitive rates.
