Overview
- The Board of Trade met in New Delhi under Commerce Minister Piyush Goyal to coordinate states, export councils and industry on steps to lift shipments facing steep US tariffs.
- Goyal said the mission will include dedicated schemes for landlocked states and stressed priorities such as market diversification, logistics upgrades, MSME support, technology adoption and expanded digital trade infrastructure.
- The six-year Export Promotion Mission, starting in 2025–26, allocates Rs 10,401 crore for Niryat Protsahan and Rs 14,659 crore for Niryat Disha.
- India’s merchandise exports fell 11.8% in October to USD 34.38 billion and the trade deficit hit a record USD 41.68 billion as US-bound shipments dropped 8.58% after 50% tariffs and imports surged on gold.
- Participants flagged quality control orders, higher wage costs from labour code implementation and rupee weakness, while analysts cautioned that depreciation has not overcome structural bottlenecks and India continues talks with the US, with an initial pact phase expected soon.