The Biz Reporter
Srinagar, Nov 13: The Kashmir Chamber of Commerce and Industry (KCC&I) has welcomed the Union Cabinet’s approval of the Export Promotion Mission (EPM), calling it a timely and transformative intervention that aligns with the long-standing needs of Jammu and Kashmir’s export sectors.
The Chamber said it particularly appreciates this flagship initiative aimed at strengthening India’s export competitiveness, especially for MSMEs, first-time exporters and labour-intensive sectors such as handicrafts, which form a major share of J&K’s export base.
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Mission with a total outlay of ₹25,060 crore for FY 2025–26 to FY 2030–31. The programme will be implemented by the Directorate General of Foreign Trade through a fully digital platform to ensure seamless access from application to disbursal.
KCC&I also welcomed the Mission’s two integrated components — Niryat Protsahan and Niryat Disha — which cover a wide range of financial and non-financial enablers including affordable trade finance, interest subvention, export branding and packaging support, participation in international trade fairs, logistics and compliance assistance, and quality enhancement measures.
The Chamber appreciated the consolidation of the Interest Equalisation Scheme and the Market Access Initiative into a unified, technology-enabled export framework aligned with the vision of Viksit Bharat @2047.
KCC&I said the approval comes at a crucial time for Jammu and Kashmir’s export sectors, which have suffered deep setbacks, including a decline of ₹733 crore in handicrafts exports during 2023–24, shrinking global visibility, reduced participation in trade fairs and high logistical costs. The Mission, it said, directly responds to these challenges by offering an integrated support structure capable of restoring confidence among artisans, growers, MSMEs and emerging first-time exporters.
The Chamber expressed optimism that the Mission will help revive J&K’s labour-intensive traditional crafts — carpets, shawls, papier-mâché and walnut woodwork — as well as horticulture exports, which require stronger branding, packaging and compliance support to expand their global footprint.
KCC&I also welcomed the Credit Guarantee Scheme for Exporters, noting that collateral-free credit will enable MSMEs and first-time exporters in J&K to scale operations, fulfil large orders and explore new markets without financial strain.
Reaffirming its vision to double J&K’s export volume in the next three years, the Chamber said the approval of the Export Promotion Mission has generated renewed optimism across the business community.
KCC&I concluded by saying it will continue to work proactively with DGFT, export bodies, financial institutions and government agencies to ensure that the benefits of the Mission reach artisans, growers, manufacturers, MSMEs and first-time exporters across the Valley.
