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The commerce ministry is likely to roll out eight components of the Rs 25,060-crore Export Promotion Mission, including e-commerce, factoring services and warehousing, a senior government official said. In November last year, two schemes were approved by the Union Cabinet with a combined outlay of over Rs 45,000 crore -- Export Promotion Mission (Rs 25,060 crore) and the Credit Guarantee Scheme (Rs 20,000 crore). The Export Promotion Mission (EPM) operates through two integrated sub-schemes -- Niryat Protsahan (Financial Enablers); and Niryat Disha (Non-Financial Enablers) that together address finance and non-financial enablers. The Niryat Protsahan focuses on improving access to affordable trade finance for MSME exporters through instruments such as interest subvention on pre- and post-shipment credit, export-factoring and deep-tier financing, credit cards for e-commerce exporters, collateral support for export credit and credit-enhancement for new or high-risk markets. On the ot
India should press the European Union (EU) to clear the "dense web" of non-tariff barriers for domestic products, especially in the agri and pharma sectors, under the proposed free trade agreement, as such restrictions often "blunt" the benefits of tariff reductions, think tank GTRI said on Monday. The conclusion of the India-EU free trade agreement (FTA) negotiations is expected to be announced on January 27 during the visit of the EU team here. The pact is nearing the finishing line after 18 years. The talks started in 2007. The President of the European Council, Antonio Luis Santos da Costa, and the President of the European Commission, Ursula von der Leyen, will be on a state visit to India from January 25-27. They are chief guests at the 77th Republic Day celebrations. The barriers faced by Indian products in the EU include regulatory delays in pharmaceutical approvals, stringent sanitary and phytosanitary (related to plants and animals) rules affecting food and agricultural ..
Supply-chain realignments and inventory restocking ahead of the US holiday season helped India's exports rebound in November, think tank GTRI said on Sunday. After recording contraction for two consecutive months, India's merchandise exports to the US rose 22.61 per cent to USD 6.98 billion in November despite steep 50 per cent tariffs on domestic goods, according to commerce ministry data. Imports during the month grew 38.29 per cent to USD 5.25 billion. During the April-November period of this fiscal year, the country's exports to the US increased 11.38 per cent to USD 59.04 billion, while imports rose 13.49 per cent to USD 35.4 billion. The US has imposed a sweeping 50 per cent tariff on Indian goods entering American markets from August 27. The Global Trade Research Initiative (GTRI) said in sectors such as electronics and machinery, "supply-chain realignments and inventory restocking ahead of the US holiday season also supported shipments". It added that the rebound after ..