Government Initiates Export Boost Scheme for MSMEs

The Indian government is on the verge of launching a new scheme to financially support MSMEs in registering their products in international markets, a move aimed at boosting the nation's export figures. Commerce and Industry Minister Piyush Goyal announced that the registration costs will be covered by the government.

This initiative is part of the broader Export Promotion Mission (EPM), which aims to expand exports through a series of innovative components, including trade finance support and market access initiatives. The EPM seeks to empower MSMEs, which account for over 40% of India's exports.

Goyal emphasized the importance of Free Trade Agreements, which have been signed with several countries, including the UAE and Australia, and ongoing negotiations with regions like the EU and Mercosur, to offer Indian exporters enhanced market opportunities and greater global reach.

(With inputs from agencies.)