Union Minister Smt. Nirmala Sitharaman Highlights Key Policy Measures to Promote Export-led Growth

New Delhi: 24 June 2025:  Export Import Bank of India (EXIM) hosted the Trade Conclave 2025 on 24th June 2025, in a significant move to build export-led growth for Viksit Bharat.

Speaking on the occasion, Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs, highlighted that Exim Bank’s Trade Assistance Programme (TAP) is a first-of-its-kind trade facilitation initiative in India, which is enabling Indian exporters to access high-risk markets by bridging the financing gaps. The Minister highlighted that since TAP’s introduction in 2022, Exim Bank has established partnerships with over 100 overseas banks, facilitating over 1,100 export transactions across 51 countries.

The Finance Minister outlined major steps taken by the Government to empower Indian exporters and foster export-led growth. Smt. Nirmala Sitharaman said that there has been significant investments in transport and logistics, which is improving supply chain efficiency and global competitiveness.

The Union Minister also mentioned that MSMEs are being supported through key initiatives such as revision in definition of MSMEs, Udyam registration, revamp of Credit Guarantee Schemes, TReDS, and Exim Bank’s Ubharte Sitaare Programme.

There is a focus on enhancing access to trade finance through platforms like ITFS and Exim Bank’s subsidiary in GIFT City, Exim Finserve, which is offering export factoring, the Minister added.

Smt. Nirmala Sitharaman also said that cluster development for trade is being pursued under the Districts as Export Hubs initiative, enabling exporters to operate beyond SEZs and directly from their local districts.

India is actively negotiating FTAs with several geographies, with the agreement with the European Union and USA also close to finalisation, Smt. Nirmala Sitharaman said. The Finance Minister also highlighted the role of Production-linked incentive scheme, with exports catalysed through the scheme exceeding ₹5.3 lakh crore.

Speaking on the occasion, Shri Pankaj Chaudhary, Minister of State for Finance, highlighted the growing competitiveness of Indian exporters and measures undertaken by the Government of India for enhancing credit flow for Indian enterprises, particularly for MSMEs.

In his address, Shri. M. Nagaraju, Secretary, Department of Financial Services, highlighted that the financial system is firmly positioned to drive sustained economic growth and trade in Viksit Bharat.

The key milestones achieved under Exim Bank’s Trade Assistance Programme (TAP) were highlighted during the Conclave.

During the event, the Union Finance Minister Smt. Nirmala Sitharaman virtually inaugurated Exim Bank’s new offices in Lucknow, Indore, and São Paulo, Brazil, in the presence of Shri Pankaj Chaudhary, Minister of State for Finance, and Shri M. Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, Government of India. These offices will play a key role in supporting existing and aspiring exporters and facilitating access to new markets.

During the Conclave, Ms. Harsha Bangari, Managing Director, Exim Bank, noted that support provided by the Bank has been a key enabler for Indian companies to scale up export capacities, move up the value chain, and undertake complex project exports across various geographies.

Smt. Nirmala Sitharaman presented sanction letters to select SMEs being supported under the Ubharte Sitaare Programme. Exim Bank also exchanged a technical assistance agreement with IIT Kanpur for supporting high-potential startups.

Minister of State for Finance, Shri Pankaj Chaudhary also released Exim Bank’s research publications titled ‘India’s Need to Secure Critical Minerals for Energy Transition’, ‘India’s Defence Equipment Industry: Exploring New Frontiers’ and ‘Textile & Allied Products Trade under ASEAN-India Trade in Goods Agreement: Value Chain Analysis’. These studies offer insights on the recent dynamics in these sectors and outline strategies to enhance their export competitiveness.

This event was attended physically and virtually by over 200 participants from the Indian industry, heads of banking/financial institutions, exporters, export promotion councils, and academia.