Prime Minister Narendra Modi on Thursday (November 13, 2025) said that the latest decisions of the Union Cabinet on export promotion would significantly enhance India’s global competitiveness and further strengthen the country’s push towards self-reliance. His remarks came a day after the Cabinet, chaired by him, approved major reforms including an Export Promotion Mission (EPM) and a Credit Guarantee Scheme for Exporters.
In a post on X, Mr. Modi said the Cabinet’s approval of the Export Promotion Mission would “ensure ‘Made in India’ resonates even louder in the world market”, adding that the initiative aims to assist MSMEs, first-time exporters and labour-intensive sectors. The EPM brings together various stakeholders to create a more streamlined and outcome-oriented export ecosystem.
Export Promotion Mission to support MSMEs
The newly approved Export Promotion Mission has been designed to reduce barriers faced by smaller businesses and emerging exporters. Government officials stated that the mission will create a coordinated mechanism to boost export readiness, promote value addition and strengthen India’s presence in competitive global markets.
The Mission will also work closely with states, industry bodies and export councils to build sector-specific strategies. Labour-intensive industries such as textiles, leather, handicrafts, engineering goods and agro-based products are expected to benefit significantly from the initiative. The government believes that supporting first-generation exporters is critical for widening India’s export base and accelerating economic growth.
Credit guarantee scheme to enhance business confidence
The Prime Minister also highlighted the importance of the Credit Guarantee Scheme for Exporters (CGSE), which aims to ensure smoother business operations by reducing financial risks for exporters. Under this scheme, credit guarantees will be provided to banks and financial institutions, encouraging them to extend greater support to exporters of all sizes.
According to Mr. Modi, the CGSE will “boost global competitiveness, ensure smooth business operations and help realise our dream of an Aatmanirbhar Bharat”. The initiative is expected to strengthen confidence among exporters, especially MSMEs facing challenges in securing working capital and pre- and post-shipment financing.
The move aligns with the government’s broader objective of integrating India more deeply into global supply chains while ensuring a strong domestic manufacturing base.
Royalty rationalisation for key minerals
In another major decision, the Cabinet approved the rationalisation of royalty rates for essential minerals including graphite, caesium, rubidium and zirconium. These minerals are critical for green energy technologies such as electric vehicle (EV) batteries, renewable energy storage systems and advanced electronics.
Mr. Modi said this decision would “boost sustainability and self-reliance” and help India secure stronger supply chain resilience. The revised royalty regime aims to encourage exploration, reduce extraction costs and attract investment into the mining and mineral processing sectors.
Officials noted that the updated royalty structure would not only make mineral extraction more viable but also create employment opportunities in mineral-rich regions.
Strengthening supply chains and green transition
Experts believe the rationalisation of royalty rates is strategically aligned with India’s long-term green energy goals. Global demand for minerals like graphite and zirconium has surged due to rapid advancements in EVs and renewable technologies. By ensuring a stable supply of these critical minerals, the government hopes to make India a competitive manufacturing hub for next-generation green technologies.
The move is expected to support the domestic EV ecosystem, reduce dependency on imports and create added value through processing and manufacturing activities within the country.
Conclusion
The Union Cabinet’s decisions mark another significant step in India’s push for global competitiveness and economic self-reliance. With the launch of the Export Promotion Mission and the Credit Guarantee Scheme for Exporters, along with the rationalisation of royalty rates for key minerals, the government has signalled its intent to strengthen both the country’s export landscape and its green technology capabilities. These reforms, officials say, are expected to benefit MSMEs, improve supply chains and generate employment as India accelerates its Aatmanirbhar Bharat vision.