US tariff shield: Export promotion mission heads to Cabinet, Rs 25,000 crore support on table

The government’s proposed Export Promotion Mission, designed to shield Indian exporters from global trade shocks, is set to be placed before the Union Cabinet for approval soon, sources told PTI. Inter-ministerial consultations on the scheme have been completed.The mission, first announced in the Union Budget, is expected to offer about Rs 25,000 crore worth of support measures for exporters over six financial years (2025-2031), according to people familiar with the matter, PTI reported.Buffer against Trump tariffsIf cleared, the scheme could provide much-needed relief to exporters hit by global trade uncertainties, particularly the recent US decision to impose a steep 50% tariff on Indian goods from August 27.“So export promotion mission, you know, the inter-ministerial consultations have happened, and soon we will be going to cabinet. Already in the Budget, there was an announcement, and it would be a kind of a scheme which would be fungible,” a source said.