New Delhi, Dec 7 (IANS) The government’s approval of a Rs 45,000 crore ($5 billion) export support package has sent a positive signal that India is ready to deepen its engagement with fast-growing markets, especially across Southeast Asia, according to an article in the Vietnam Times.
By ensuring easier access to credit through CGSE (Credit Guarantee Scheme for Exporters), supported by guarantees and risk-reduction mechanisms, the government is enabling MSMEs to confidently pursue new market opportunities.
“This is particularly promising for deeper engagement with Southeast Asian economies, where Indian MSMEs have strong potential to diversify exports. From speciality textiles to engineering components, processed foods and affordable fashion, the demand across ASEAN is expanding rapidly,” the article states.
With improved financing and better global compliance support, Indian exporters are now better equipped to tap into these markets with consistency and scale.
The two flagship components of the package — the Rs 25,060 crore ($2.8 billion) Export Promotion Mission (EPM) and the Rs 20,000 crore ($2.2 billion) CGSE — together create a strong, forward-looking foundation for India’s export expansion.
The Export Promotion Mission represents a structural transformation in India’s export support framework. Instead of fragmented and scheme-based incentives, EPM introduces a unified, digitised and outcome-oriented architecture that can swiftly align with evolving global opportunities.
Its two integrated pillars — Niryat Protsahan and Niryat Disha — complement each other. One enhances access to affordable trade finance, while the other strengthens market readiness, branding and compliance capabilities. For India’s exporters, this means smoother processes, stronger visibility and greater ability to compete in sophisticated global markets.
This modernisation of export support also signals India’s readiness to grow into a central node in Southeast Asia’s supply networks — a region where demand is rising, consumption patterns are diversifying, and new production hubs are emerging, the article points out.
A positive, transformative feature of the package is its focus on micro, small and medium exporters. These businesses often serve as the backbone of India’s labour-intensive sectors — textiles, leather, engineering goods, gems and jewellery and marine products..
One of the most forward-looking elements of the new framework is its digital backbone. The Directorate General of Foreign Trade (DGFT) will manage applications, approvals and disbursals through an integrated portal that aligns with existing trade systems, article states.
It highlights that digital facilitation also enhances India’s attractiveness as a trade partner for Southeast Asia’s technology-driven economies, which prioritise predictability and speed in their supply chain engagements.
Niryat Disha’s focus on non-financial enablers marks a progressive shift in India’s export philosophy. Global trade today is driven as much by quality, certifications and branding as it is by price competitiveness.
The scheme’s support for packaging, international branding, trade fair participation, capacity building and export intelligence strengthens India’s positioning in markets where consumers and distributors value reliability, traceability and high standards.
This holistic approach is particularly well aligned with Southeast Asia’s emerging middle-class economies, where premiumisation trends are spreading and where Indian products — from handicrafts to electronics components — can expand their footprint significantly with the right branding support, the article added.
–IANS
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