Government to Fund Major Costs for Small and Micro Exporters
The Indian government has announced significant financial support for micro and small exporters to help them cover the costs of international approvals. This move is designed to help small businesses comply with global regulations, such as Europe’s REACH and CBAM, and boost their international shipments.
Commerce and Industry Minister Piyush Goyal shared these updates on Monday during the National Quality Conclave. This support is part of the government’s ₹25,060 crore Export Promotion Mission (EPM).
Support Through the TRACE Program
Under a specific part of the mission called TRACE (Trade Regulations, Accreditation and Compliance Enablement), the government will help exporters meet international standards for testing, inspection, and certification.
Key benefits include:
- High Reimbursements: Small businesses can get back up to 75% of their eligible expenses for international certifications.
- Annual Limits: Each exporter (per IEC code) can claim up to ₹25 lakh per year.
- Global Compliance: The funding covers expensive approval processes required by Europe, such as REACH (for chemical substances) and CBAM (a carbon tax on products like iron and steel).
Minister Goyal emphasized that reducing these compliance costs will help Indian exporters overcome trade barriers and enter new global markets.
Boosting Exports Through Trade Agreements
India’s global trade reach is expected to grow significantly thanks to nine Free Trade Agreements (FTAs) finalized over the last four years. These include deals with the European Union, the UK, Oman, and New Zealand.
To take full advantage of these agreements, the Minister urged labor-intensive sectors and MSMEs to focus on:
- Improving production processes and product quality.
- Continuous inspection from the raw material stage to the finished product.
- Training and upskilling workers to reduce waste and ensure excellence.
Ambitious Export Targets
The government is confident about the future of Indian trade. Minister Goyal noted that India is on track to reach a $2 trillion export target for goods and services within the next 6 to 7 years.
Current data shows a positive trend, with India’s exports recording double digit growth in the first two weeks of February 2026.
Also Read : Tamil Nadu Final Voter List 2026 97 Lakh Names Deleted After Special Revision
