Union Budget 2025: Government to set up Export Promotion Mission with an outlay of ₹2,250 crore

Union Budget promotes exports through Export Promotion Mission, digital infrastructure, food processing support, and maritime development fund.

The Union Budget announced an Export Promotion Mission with an outlay of ₹2,250 crore to facilitate easy access to export credit, cross-border factoring support, and help MSMEs tackle non-tariff measures in overseas markets.

The Mission, with sectoral and ministerial targets, will be driven jointly by the Ministries of Commerce, MSMEs, and Finance.

This is among the slew of measures announced in the Budget to promote exports.

Another major plan is to create a digital public infrastructure, ‘BharatTradeNet’ (BTN), for international trade and it will be an unified platform for trade documentation and financing solutions. This will complement the Unified Logistics Interface Platform. The government will also revamp the model BIT (Bilateral Investment Treaty) to make it more investor-friendly and encourage sustained foreign investment.

In order to support food processing exports, a National Food Technology Institute will be set up in Bihar and it will enhance value addition, agri-exports, and job creation.

The duration for export of handicrafts manufactured from duty free inputs by bona fide exporters will be extended to one year, further extendable by 3 months.

A release from the Department of Commerce says India’s trade deficit in maritime services is about $50 billion and development of Indian shipping lines is likely to address this trade deficit. Shipbuilding financial assistance policy will be revamped, including credit notes for ship-breaking to support a circular economy. The Maritime Development Fund of ₹25,000 crore will be used to finance long-term industry growth, with 49% government contribution. Large ships above a specific size will be added to the infrastructure harmonized master list (HML).