US tariff impact: Export Promotion Mission Scheme to be placed before Cabinet soon

The inter-ministerial consultations for the Export Promotion Mission have concluded and the proposal will soon be sent to the Union Cabinet seeking its approval, sources said.

The government is considering support measures worth about Rs 25,000 crore for exporters under the Export Promotion Mission, announced in the Budget, for six financial years (2025-2031), PTI had reported citing sources last month.

The mission, if approved, can help insulate domestic exporters from global trade uncertainties arising from Trump tariffs. The US has imposed a hefty 50 per cent tariff on Indian goods, starting August 27.

''So export promotion mission, you know, the inter-ministerial consultations have happened, and soon we will be going to cabinet. Already in the Budget, there was an announcement, and it would be a kind of a scheme which would be fungible,'' sources said.

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