Ready to make changes to export promotion mission components based on feedback: Official

New Delhi: The commerce ministry is ready to make changes to the rules or components of the Rs 25,060-crore Export Promotion Mission based on feedback from exporters, a senior government official said on Wednesday.

Follow The PSUWatch Channel on WhatsApp

In November last year, the government approved an Export Promotion Mission (EPM) with an outlay of Rs 25,060 crore for six financial years. The mission is being implemented through two sub-schemes – Niryat Protsahan (Rs 10,401 crore) and Niryat Disha (Rs 14,659 crore).

There are a total of 11 components in the scheme, which was rolled out by the Directorate General of Foreign Trade (DGFT). Two are getting healthy traction - Interest Subvention for Pre- and Post-Shipment Export Credit and Market Access Support (MAS).

When asked if the ministry is ready to make some changes to make the other components attractive, the official said, "We are more than ready to tweak. If we get feedback from the field, we would like to examine it.”

The official added that the purpose of the scheme is to make it implementable for exporters.

Follow PSU Watch on LinkedIN

"So, we are totally open to that point," the official said, adding that the DGFT is working on other components.

“A framework for 'Brand India' is being developed, as a framework for 'Sectoral Brand India'. We have issued numerous circulars regarding factoring services and are in discussions with the factoring service providers," the official said.

The official said the two components are getting a good response as they were available earlier also, so exporters are finding it easier to avail of them. The new components require some extra effort and also take some more time.

"We are totally open to the idea (of making changes). Bigger focus is, the scheme has to be implemented, exporters have to get them in," the official said.

(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated)