Latest news with #ExportPromotionMission
Mint
11-06-2025
- Business
- Mint
Task force on textile explores strategies to boost exports
New Delhi: The newly formed task force on textile exports held its first meeting under the chairmanship of outgoing commerce secretary Sunil Barthwal on Tuesday, focusing on challenges impacting shipments and strategies to enhance the sector's global competitiveness, the commerce ministry said on Wednesday. The discussions spanned the entire textile value chain—covering skilling, labour productivity, cost structures, scaling up manufacturing, adoption of renewable energy, and sustainability practices. The task force also reviewed the effectiveness of existing government schemes aimed at supporting the sector. Barthwal underlined that the task force's primary goal is to establish a unified platform for addressing long-standing issues facing the textile industry, and to develop coordinated, actionable solutions with inputs from all key stakeholders. The timing of the task force meeting is seen as significant, given India's ongoing efforts to diversify its textile export destinations and reduce reliance on a few traditional markets such as the US and the European Union. With a vision to scale textile exports to $100 billion by 2030-31, the government is stepping up its engagement with industry players to strengthen policy alignment and unlock new opportunities. India's textile exports have shown a mixed trend in recent years—rising from $35.55 billion in FY23 to $36.55 billion in FY25, after falling to $34.40 billion in FY24. Traders present at the meeting stressed the need for sustained support to overcome global demand fluctuations, price competitiveness issues, and supply chain bottlenecks. Rajesh Agrawal, commerce secretary-designate, stressed the need for continuous innovation and alignment with evolving global trends as crucial for expanding India's share in the international textile market. 'We need to think ahead and build on our strengths to meet shifting consumer preferences,' said Agrawal. Satya Srinivas, special secretary in the Department of Commerce, added that the industry must capitalize on the government's ongoing trade negotiations and preferential access frameworks, including zero-duty market arrangements, to drive growth. Other key areas discussed included improving regulatory and quality control standards, strengthening logistics, promoting Geographical Indication (GI) products, enhancing productivity of natural fibres such as jute, and advancing the planned Export Promotion Mission by the commerce department. The meeting concluded with an agreement to set up ministry-led sub-task forces, which will submit detailed recommendations to the main panel. These sub-groups will be composed of representatives from various Textile Export Promotion Councils, industry associations, and exporters—ensuring that policy formulation is closely informed by on-the-ground realities, the ministry said. Stakeholders said that the task force marks a renewed push to bring coherence to textile sector reforms and unlock India's full potential as a global sourcing hub.
Fibre2Fashion
11-06-2025
- Business
- Fibre2Fashion
Addressing key issues aim of Indian Task Force on Textiles Exports
The primary objective of the Task Force on Textiles Exports is to create a unified platform to address critical issues of the textile sector by involving all relevant stakeholders, Indian commerce secretary Sunil Barthwal told the first meeting of the task force held in Delhi yesterday. That would help resolve issues and formulate strategies for enhancing India's share of textile exports in global markets, he said. The primary objective of the Task Force on Textiles Exports is to create a unified platform to address critical issues of the textile sector by involving all relevant stakeholders, Indian Commerce Secretary Sunil Barthwal told the first meeting of the task force held in Delhi yesterday. That would help resolve issues and formulate strategies for enhancing India's share of textile exports globally. The meeting discussed upgradation of environmental, social and governance infrastructure in garment manufacturing units, use of renewable energy, European Union Deforestation Regulation, strengthening of e-commerce for export growth and simplifying regulatory framework, labour, and raising cost competitiveness for productivity enhancement. It also discussed development of new jute diversified products, separate HS codes for products with geographical indication, productivity enhancement of natural fibres and matters related to the Export Promotion Mission being set up by department of commerce. Representatives of the various textiles Export Promotion Councils and industry associations offered their views and suggestions, a release from the ministry of commerce and industry said. Meanwhile, the Confederation of Indian Textile Industry (CITI) welcomed the approach adopted by the Ministry of Commerce to ensure that textile exporters can derive the fullest advantage of trade agreements signed by India and those on the verge of being signed, CITI chairman Rakesh Mehra said in a release. Fibre2Fashion News Desk (DS)
Time of India
10-06-2025
- Business
- Time of India
Govt may help MSMEs register products abroad: Piyush Goyal
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Bern: India plans to come out with a dedicated scheme to assist micro, small and medium enterprises in registering their products overseas, commerce and industry minister Piyush Goyal government is firming up details of the Export Promotion Mission (EPM) announced in its February budget, and this scheme could be a part of the package."I am thinking of coming out with a scheme that any MSME that needs to spend any amount of money to register their products anywhere in the world, particularly for new products, new markets, and new exporters, the government will fund the whole cost," Goyal told a visiting Indian industry delegation late Monday is on a four-day visit to Switzerland and Sweden to boost trade and investments between the two asked the Indian industry to focus on exporting value-added goods and run campaigns for brand building and marketing."We do a lot of rice exports. Can we look at how to add value to those exports. We need to brand the products, can we run campaigns? Can we run joint campaigns to market Indian rice or grown-in-India rice?" the minister prompted the said the government had inked several free trade agreements and is negotiating deals with the EU, New Zealand and Oman. "I am sure the (deal with) EU will happen very soon. So, in a short span of a year and a half, we will get an FTA with all the major European countries with whom we wish to do business," Goyal said, adding Brazil is keen to initiate talks on a trade deal. "We already have negotiations with Chile and Peru," he about measures to arrest the declining trend in FDI, he said India is witnessing renewed overseas inflows and the government is open to suggestions and will adopt new measures to promote he said there is no declining trend even though periodic fluctuations may occur due to changes in global interest received FDI of $748.78 billion between 2014-2025Goyal has proposed a dedicated enclave for Swiss businesses in India with a trade deal with the European Free Trade Association (EFTA), which includes Switzerland, Norway, Iceland, and Liechtenstein, coming into effect in three an event organised to mark the Swiss industry day here, the minister said both Switzerland and India had a "natural partnership." Citing statistics to highlight the India growth story, he said the country was focussing on inclusive growth and had taken large leaps in creating infrastructure."We could even create a Swiss enclave, an area dedicated to Swiss businesses," Goyal said, adding that the enclave could have restaurants, hotels, schools and colleges for Swiss citizens who would come to work in the units of those said while India provides a huge market and skilled professionals, Switzerland has advanced manufacturing the pact, India has received an investment commitment of $ 100 billion in 15 years from the grouping. The minister suggested a reciprocal mechanism for recognition of certification about the proposed trade deal between New Delhi and the US, Goyal said both were in talks for a "fair and equitable" trade agreement that will provide them with an opportunity to expand and strengthen trade ties."We believe it's an opportunity for us to expand our bilateral trade and strengthen our partnership," he told reporters minister said that both America and India are close friends, allies and strategic partners."We are negotiating to make a nice, fair, equitable and balanced agreement to promote business," Goyal said.A US team of trade officials is in New Delhi till June 10 for talks on the trade deal, US President Donald Trump and Prime Minister Narendra Modi had announced in minister said Swiss pharmaceutical companies have not shown even a single instance that Indian companies have illegally copied any of their trademarks or patent or copyrighted technology."I was shown none, not one. This is a myth which has been propagated for years," Goyal told reporters, responding to queries on complaints of Swiss pharma companies on IPR issue."India is very respectful of intellectual property rights (IPRs). India is very conscious of its responsibilities, and India is a country known to never, ever steal anybody else's technology," he underlined that India does not permit ever-greening of patents.(The correspondent is in Switzerland at the invitation of Commerce and Industry Ministry)
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Business Standard
10-06-2025
- Business
- Business Standard
Govt may start scheme to help MSME exporters register in new markets: Goyal
The government is considering formulating a scheme to fund exporters, especially MSMEs, in registering new products in new markets with an aim to boost the country's outbound shipments, Commerce and Industry Minister Piyush Goyal has said. He added that the entire cost of such registration will be funded by the government. "I am thinking of coming out with a scheme that any MSME that needs to spend any amount of money to register their products any where in the world, particularly for new products, new markets, new exporters, the government will fund the whole cost," Goyal said here on June 9 while addressing Indian business delegation. The minister is here on an official visit to hold meetings with Swiss leaders and companies to boost trade and investments between the two countries. This scheme is expected to be part of the Export Promotion Mission (EPM), which was announced in the Budget. It may include 12 components, including easy credit schemes for MSMEs, e-commerce exporters, facilitation of overseas warehousing, and global branding initiatives, to tap emerging export opportunities and strengthen trade tools for small businesses. The EPM is divided into two broad categories - Providing Trade Finance Support (NIRYAT PROTSAHAN) and Driving International Holistic Market Access (NIRYAT DISHA) Initiative. The country's total exports of goods and services have increased to $825 billion in 2024-25 from $778 billion in the previous fiscal. MSMEs account for over 40 per cent of the country's exports. Further, he urged the Indian industry to focus on exporting value-added goods and run campaigns for brand building and marketing. "I would urge you to come with an idea for the government to support (exporters) in brand building, in getting registrations around the world. "We do a lot of rice exports, can we look at how to value add those exports. We need to brand the products, can we run campaigns, can we run joint campaigns to market Indian rice or grown in India rice," he suggested. To increase the area of exhibition in the country, the minister informed that the second phase of construction at Bharat Madapam has been authorised. "I have just authorised phase-2 of Bharat Mandapam, we are adding another few lakhs square feet," he said. Goyal added that a number of Free Trade Agreements (FTAs) have been signed and implemented by India with countries including the UAE and Australia to provide greater market access to Indian exporters. He informed that active negotiations for FTAs are on with countries, including Oman, New Zealand, and the European Union (EU). India's FTA with the UAE helps the domestic industry to tap into the Gulf region, Africa and Central Europe. A similar pact was signed with the UK and four European nation bloc EFTA. "I am sure the EU will come in very soon, so in a short span of a year and a half, we will get an FTA with all the major European countries with whom we wish to do business," Goyal said, adding Brazil wants to restart talks on the India-Mercosur trade pact. With this South American bloc (Argentina, Brazil, Paraguay and Uruguay), India has a Preferential Trade Agreement. "We already have negotiations with Chile and Peru," he added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
10-06-2025
- Business
- Time of India
Govt considering scheme to help MSME exporters register goods in new markets: Goyal
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads BERN: The government is considering formulating a scheme to fund exporters, especially MSMEs , in registering new products in new markets with an aim to boost the country's outbound shipments, Commerce and Industry Minister Piyush Goyal has added that the entire cost of such registration will be funded by the government."I am thinking of coming out with a scheme that any MSME that needs to spend any amount of money to register their products any where in the world, particularly for new products, new markets, new exporters, the government will fund the whole cost," Goyal said here on June 9 while addressing Indian business minister is here on an official visit to hold meetings with Swiss leaders and companies to boost trade and investments between the two scheme is expected to be part of the Export Promotion Mission (EPM), which was announced in the may include 12 components, including easy credit schemes for MSMEs, e-commerce exporters, facilitation of overseas warehousing, and global branding initiatives, to tap emerging export opportunities and strengthen trade tools for small EPM is divided into two broad categories - Providing Trade Finance Support (NIRYAT PROTSAHAN) and Driving International Holistic Market Access (NIRYAT DISHA) country's total exports of goods and services have increased to USD 825 billion in 2024-25 from USD 778 billion in the previous fiscal. MSMEs account for over 40 per cent of the country's he urged the Indian industry to focus on exporting value-added goods and run campaigns for brand building and marketing."I would urge you to come with an idea for the government to support (exporters) in brand building, in getting registrations around the world."We do a lot of rice exports, can we look at how to value add those exports. We need to brand the products, can we run campaigns, can we run joint campaigns to market Indian rice or grown in India rice," he increase the area of exhibition in the country, the minister informed that the second phase of construction at Bharat Madapam has been authorised."I have just authorised phase-2 of Bharat Mandapam, we are adding another few lakhs square feet," he added that a number of Free Trade Agreements (FTAs) have been signed and implemented by India with countries including the UAE and Australia to provide greater market access to Indian informed that active negotiations for FTAs are on with countries, including Oman, New Zealand, and the European Union (EU).India's FTA with the UAE helps the domestic industry to tap into the Gulf region, Africa and Central Europe. A similar pact was signed with the UK and four European nation bloc EFTA."I am sure the EU will come in very soon, so in a short span of a year and a half, we will get an FTA with all the major European countries with whom we wish to do business," Goyal said, adding Brazil wants to restart talks on the India-Mercosur trade this South American bloc (Argentina, Brazil, Paraguay and Uruguay), India has a Preferential Trade Agreement. "We already have negotiations with Chile and Peru," he said that the previous government in India focused on entering into FTAs with developing countries, which did not benefit India much."But we are doing with advanced counters," he said.
