Cabinet’s decisions on exports to boost competitiveness, attract investment: PM Modi

Prime Minister Narendra Modi on Thursday said the Union Cabinet’s recent decisions on exports will strengthen India’s global competitiveness, boost supply chains, and advance the vision of an Aatmanirbhar Bharat.

India’s export sector is reinforced with a new support system through the ₹25,060 crore Export Promotion Mission (EPM) approved by the Cabinet. The decision is a firm step towards Modi’s vision of making the sector more competitive, globalizing Indian products, and creating a wide range of employment opportunities for youth.

At a Cabinet meeting on Wednesday, two key initiatives were approved: the EPM and a Credit Guarantee Scheme for Exporters. Modi said the EPM will particularly benefit MSMEs, first-time exporters, and labour-intensive sectors, helping them access global markets more effectively. “Ensuring ‘Made in India’ resonates even louder in the world market,” he said, noting that the mission brings together key stakeholders to create an outcome-oriented framework.

The Credit Guarantee Scheme for Exporters is expected to ease access to finance, smooth business operations, and support small and medium enterprises venturing into exports for the first time. Officials said the move could also encourage foreign investment and international partnerships, as global companies look for stable and well-supported trade environments.

In another decision, the Cabinet approved rationalisation of royalty rates for critical minerals including graphite, caesium, rubidium, and zirconium, which are essential for green energy and high-tech manufacturing. Modi said this will strengthen supply chains, reduce input costs, promote sustainability, and generate jobs.

Experts said the combination of improved financing, market access, and policy stability could make India a preferred destination for joint ventures, technology collaborations, and FDI, particularly in sectors such as green energy, electronics, textiles, and engineering goods.

Through these measures, the government aims to reinforce the “Made in India” brand, expand India’s global trade footprint, and build a more resilient and self-reliant economy.