NEW DELHI: The Expenditure Finance Committee will soon review the Commerce Ministry’s proposed ₹2,250 crore export promotion mission, aimed at shielding domestic exporters from global trade disruptions caused by high US tariffs under President Donald Trump.
“The committee, under the Finance Ministry, will soon take up the proposal. After its approval, it will go to the Cabinet,” an official said on Wednesday.
The mission is expected to feature measures such as easy credit schemes for MSME and e-commerce exporters, support for overseas warehousing, and global branding initiatives to tap emerging markets. The government announced the mission in the Union Budget on February 1.
The Commerce Ministry has held several stakeholder consultations to address exporters’ concerns over the 50% US tariffs, which are likely to hit sectors such as textiles, chemicals, leather, and footwear.
India’s exports were flat at $35.14 billion in June amid global economic uncertainties, though the trade deficit fell to a four-month low of $18.78 billion. Key sectors—including petroleum, fabrics, gems and jewellery, leather, iron ore, oil seeds, cashew, spices, tobacco, and coffee—posted negative growth during the month.
In April–June 2025-26, exports rose 1.92% to $112.17 billion, while imports grew 4.24% to $179.44 billion.
