Government to issue guidelines for export interest subsidy and market access schemes next week

The Centre will release detailed operational guidelines for the Interest Equalisation Scheme and the Market Access Initiative (MAI) next week, marking the next phase of implementation under the recently approved ₹25,060-crore Export Promotion Mission (EPM). The clarification came from Ajay Bhadoo, Director General of Foreign Trade, after the Board of Trade meeting.

Bhadoo said that guidelines for all remaining components of the mission will be issued no later than January 15. “The Interest Equalisation Scheme and MAI will be notified next week,” he told reporters.

The Board of Trade, reconstituted in 2019, acts as the apex advisory body for issues related to India’s Foreign Trade Policy.

The Interest Equalisation Scheme provides exporters with subsidised interest rates on pre- and post-shipment credit, helping them remain competitive in global markets. Meanwhile, the MAI offers support to exporters seeking to expand into new overseas markets or strengthen their presence in existing ones.

The government cleared the Export Promotion Mission on November 12, allocating funds for six financial years starting 2025–26. The mission is aimed particularly at helping Indian exporters cope with sharply higher tariffs imposed by the United States.

The EPM is structured around two sub-schemes:

• Niryat Protsahan – ₹10,401 crore
• Niryat Disha – ₹14,659 crore

Sectors most affected by recent tariff hikes—including textiles, leather, gems and jewellery, engineering goods, and marine products—will receive priority support under the initiative. The steep 50% US tariff imposed from August 27 has significantly impacted Indian shipments.

India’s merchandise exports to the US fell 8.58% in October to $6.3 billion. Overall exports in October contracted 11.8% to $34.38 billion, while the trade deficit widened to a record $41.68 billion, driven largely by increased gold imports.

For the April–October period of the current fiscal year, India’s exports inched up 0.63% to $254.25 billion, whereas imports rose 6.37% to $451.08 billion.