Export Promotion Mission to Boost India's Outbound Shipments

New Delhi, Feb 1 (PTI) The commerce, MSME and finance ministries will work together to identify sectors which will really need support measures under the export promotion mission to boost the country's outbound shipments, Union Minister Piyush Goyal said on Saturday.

Commerce and Industry Minister Piyush Goyal on Saturday said issues which could be part of the mission include ways to extend credit to the exporting community at affordable rates.

The government on Saturday announced setting up of an Export Promotion Mission with an outlay of Rs 2,250 crore to promote the country's outbound shipments.

The mission will driven jointly by the Ministries of Commerce, MSME, and Finance.

It will facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets.

"The Finance Minister has given flexibility for export promotion. All three ministries will work together and design that which all sectors really need support," Goyal told PTI.

He said that announcements of the Budget will help boost domestic manufacturing and exports of sectors such as textiles, marine, toys and leather.

On the National Manufacturing Mission, he said that it would focus on sectors which need to be supported.

"The mission will closely identify sectors where there is a cost disadvantage and help them," he added.