Government Expands FTAs, Export Promotion Measures To Diversify Export Markets
The minister also emphasised on the implementing district and sector-specific export promotion initiatives under the districts as export hubs (DEHs) initiative and capacity building programmes as well: Reports
NEW DELHI: Amid the ongoing geopolitical economic uncertainties, the government on Tuesday said that it has undertaken several initiatives to diversify export markets with a focus on expanding the network of free trade agreements (FTAs), promoting cross-border e-commerce and improving market access for the domestic exporters.
In written reply in Lok Sabha, minister of state for ministry of commerce and industry Jitin Prasada said that several export-oriented measures include expanding network of FTAs and comprehensive economic partnership (CEPAs) and comprehensive economic cooperation agreements (CECAs), pursuing trade negotiations with major economies and regions to secure preferential market access for exporters.
The minister also emphasised on the implementing district and sector-specific export promotion initiatives under the districts as export hubs (DEHs) initiative and capacity building programmes as well. “Besides, the government is also undertaking focused export promotion activities through export promotion missions, Indian missions overseas, export promotion councils (EPCs), industry & associations and other stakeholders,” he said.
According to the minister, the FTAs aim at increasing bilateral trade through enlarging the scope of market access and building on the trade complementarities for increasing trade and investment, thereby providing enhanced export potential, creating benefits for industry and farmers and enhancing job opportunities.
“The FTAs facilitate preferential market access for labour intensive sector products to boost growth and employment opportunities in sectors like textile, apparel and leather goods. The FTAs also endeavour to deliver a comprehensive, balanced, broad based and equitable agreement based on the principle of fairness and reciprocity and overall benefit to all the stakeholders,” he said.
Highlighting the measures to promote cross-border e-commerce exports, particularly for MSMEs, startups, artisans and other small exporters, the minister also said Export Promotion Mission (EPM), launched in 2025 with an outlay of Rs 25,060 crore for the period FY 2025-26 to FY 2030-31, aims to strengthen India’s export competitiveness through trade finance support and export facilitation measures.
The minister further said that the government is also implementing the e-commerce export hub on a pilot basis to create an integrated ecosystem for e-commerce exports by facilitating logistics, customs clearances and other export-related services.
“The Reserve Bank of India has relaxed export reconciliation requirements for small-value exports up to Rs 10 lakh by permitting closure of export transactions in the export data processing and monitoring system on the basis of declarations furnished by exporters and reconciliation undertaken by banks,” he added.
