SRINAGAR: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Export Promotion Mission (EPM) with a total outlay of Rs 25,060 crore for FY 2025–26 to FY 2030–31, a move welcomed by the Kashmir Chamber of Commerce Industry (KCCI) as a transformative measure for Jammu Kashmir’s export sectors.
The Mission, implemented by the Directorate General of Foreign Trade (DGFT) via a fully digital platform, aims to enhance India’s export competitiveness, particularly for MSMEs, first-time exporters, and labour-intensive sectors such as handicrafts, which constitute a major share of the region’s export base.
KCCI highlighted the Mission’s two integrated components, Niryat Protsahan and Niryat Disha, which provide financial and non-financial support, including affordable trade finance, interest subvention, export branding and packaging assistance, participation in international trade fairs, logistics support, compliance facilitation, and quality enhancement.
The Chamber welcomed the consolidation of the Interest Equalisation Scheme and Market Access Initiative into a unified, technology-driven framework aligned with the vision of Viksit Bharat @2047.
Officials noted that JK’s export sectors have faced setbacks, including a Rs 733 crore decline in handicrafts exports in 2023–24, reduced global visibility, lower participation in trade fairs, and high logistical burdens. The EPM is expected to restore confidence among artisans, growers, MSMEs, and first-time exporters.
The Chamber also welcomed the Credit Guarantee Scheme for Exporters, which will provide collateral-free credit, enabling smaller exporters to scale operations, meet large orders, and access new markets.
KCCI reaffirmed its aim to double Jammu Kashmir’s export volume in the next three years, stating it will collaborate with DGFT, export bodies, financial institutions, and government agencies to ensure the benefits of the Mission reach all eligible stakeholders across the Valley.
