The government, however, aims to represent a forward-looking effort to make India’s export framework more inclusive, technology-enabled, and globally competitive.
New Delhi:In a move to counter the US tariff threats, the Union cabinet on Wednesday cleared export promotion mission or EPM in order to strengthen India’s export ecosystem with an outlay of over Rs 25,000 crore for the next six years, starting from FY 2025-26 to FY 2030-31. The government, however, aims to represent a forward-looking effort to make India’s export framework more inclusive, technology-enabled, and globally competitive.
Besides, the cabinet also approved two other important decisions -- credit guarantee scheme for exporters for 100 per cent credit guarantee coverage with an outlay of Rs 20,000 crore collateral-free credit support for exporters, including MSMEs and rationalisation of royalty rates of graphite, caesium, rubidium & zirconium minerals critical for green energy as well.
Briefing the reporters here after the cabinet meeting, Union minister Ashwini Vaishnaw said that the Centre approved the export promotion mission with a total outlay of Rs 25,060 crore to boost India’s export competitiveness, especially for MSMEs, first-time exporters and labour intensive sectors. "The scheme was first announced during the Budget 2026 statement. The mission will provide a comprehensive, flexible, and digitally driven framework for export promotion for a period between 2025-26 to 2030-31," Vaishnaw said.
With the decision, a massive financial commitment underscores the government’s focus on long-term trade stability and expansion. "The EPM marks a strategic shift from multiple fragmented schemes to a single, outcome-based, and adaptive mechanism that can respond swiftly to global trade challenges and evolving exporter needs," a government statement said.
Additionally, the Cabinet also approved a credit guarantee scheme for exporters (CGSE), under which the National Credit Guarantee Trustee Company Ltd (NCGTC) will provide full credit guarantee coverage to banks for up to Rs 20,000 crore in additional loans to eligible exporters, including MSMEs. "The scheme shall be implemented by the department of financial services (DFS) through NCGTC to provide additional credit support by MLIs to the eligible exporters including MSMEs," the government said.
Meanwhile, the cabinet also approved the rationalisation of royalty rates for four critical minerals — graphite, caesium, rubidium and zirconium — in a move aimed at promoting the auction and domestic production of these minerals used in high-tech and green energy applications.
The new royalty structure is expected to encourage the auction of mineral blocks containing caesium, rubidium and zirconium, thereby unlocking these and other associated critical minerals such as lithium, tungsten, rare earth elements and niobium. The move is also expected to boost domestic production, reduce import dependence, and create employment opportunities.
According to the government’s decision, the royalty rates have been specified or revised as follows: caesium and rubidium will each attract a 2 per cent royalty based on the average sale price (ASP) of the respective metal contained in the ore produced. Zirconium will have a royalty rate of 1 per cent of ASP, while graphite will be charged 2 per cent of ASP on an ad valorem basis for ore with 80 per cent or more fixed carbon and 4 per cent for ore with less than 80 per cent fixed carbon.
