Export Promotion Mission: ₹2,250 Crore Plan and Duty Drawback Hike
Why in the news
With US tariffs rattling trade, India helped exporters, especially in gems and jewellery, and sped up the ₹2,250 crore Export Promotion Mission from Union Budget 2025-26.
Key facts
- Duty drawback on gold jewellery was lifted from ₹335.5/gm to ₹405.4/gm of net gold content. It reimburses customs duty on goods made and shipped from India.
- The commerce ministry readied an EFC note; EFC approval is likely next month, then Cabinet clearance.
- US levied up to 26% extra tariffs from 2 April; a 90-day pause (excluding China) brought some duties to 10%.
| Mission part | Content |
|---|---|
| Revived schemes | Interest Equalisation Scheme, Market Access Initiative |
| Small exporters | Collateral-free loans, non-tariff compliance help, alternative finance, high-risk market support |
| Focus | MSMEs, with extra funds possibly sought |
Significance
Strengthens export resilience, MSME support and market diversification.
Exam angle
- Mission outlay: ₹2,250 crore.
- Concept: duty drawback.