Government Launches Rs 4,531 Crore Market Access Support for Exporters
The Indian government has introduced a new initiative worth Rs 4,531 crore to provide market access support for exporters. This financial assistance program aims to help exporters participate in international fairs and exhibitions, especially in light of the current 50 per cent tariff imposed by the US.
Export Promotion Mission
This initiative is part of the larger Rs 25,060-crore export promotion mission designed to enhance the competitiveness of Indian exporters. The mission comprises 11 components, with Market Access Support (MAS) being the first component to be operationalized.
Details of Market Access Support
Under MAS, a total of Rs 4,531 crore will be allocated for a period of six years (2025-31), with Rs 500 crore earmarked for the current fiscal year. This funding includes clearing dues of the Market Access Initiative (MAI) and structured financial and institutional support for various export activities.
Financial Assistance
Financial support under MAS will be provided for activities such as Buyer-Seller Meets (BSMs), international trade fairs, exhibitions, and Mega Reverse Buyer-Seller Meets (RBSMs) organized in India. The government will bear 60% of the costs, with a cap on support for each event.
Priority Sectors
Priority sectors under MAS include agriculture, handicrafts, leather, tourism, and technology-intensive industries. A new component for product demonstrations to potential overseas buyers will also be introduced to complement existing market access interventions.
Future Plans
The government plans to establish mandatory online feedback mechanisms for exporters participating in supported events and create a forward-looking calendar of major market access events. This will enable exporters to plan their participation well in advance and ensure continuity of market development efforts.
Export Promotion Mission Components
The export promotion mission consists of two components – Niryat Protsahan and Niryat Disha. Niryat Protsahan aims to reduce the cost of credit for exporters through schemes like interest subvention and credit enhancement.
Export Performance
In November, India’s exports rebounded by 19.37% to USD 38.13 billion, driven by higher shipments of engineering and electronics goods. This growth helped reduce the trade deficit to a five-month low of USD 24.53 billion, showcasing the resilience of Indian exporters in the global market.
