Prime Minister Narendra Modi announced that the latest set of Cabinet decisions aims to enhance India’s global competitiveness while advancing the vision of self-reliance.

The measures include the launch of an Export Promotion Mission (EPM), a Credit Guarantee Scheme for exporters, and the rationalisation of royalty rates on key strategic minerals.

The Union Cabinet, which met on Wednesday under the chairmanship of the Prime Minister, approved the Export Promotion Mission as a nationwide initiative to strengthen export performance across industries.

The mission is designed to support micro, small and medium enterprises (MSMEs), first-time exporters, and labour-intensive sectors that form the backbone of India's manufacturing and trade ecosystem.

In a post on X, the Prime Minister said that the EPM would make ‘Made in India’ resonate more powerfully in global markets. He added that the mission brings together government agencies, industry bodies, exporters, and financial institutions to create an outcome-oriented framework that can deliver measurable results and sustained export growth.

The Cabinet also cleared the Credit Guarantee Scheme for Exporters, a financial initiative intended to make Indian exporters more competitive. The scheme will provide enhanced credit coverage and smoother access to finance, particularly for MSMEs, thereby facilitating greater participation in international trade.

According to the Prime Minister, the scheme will ensure uninterrupted business operations, improve exporters’ confidence, and contribute meaningfully to the broader goal of an Atmanirbhar Bharat.

In a separate decision, the Cabinet approved the rationalisation of royalty rates for minerals such as graphite, caesium, rubidium and zirconium. These materials are critical for advanced manufacturing and green energy technologies, including batteries, fuel cells, and specialised alloys.

The reduction and restructuring of royalty rates are expected to make domestic production more viable, strengthen supply chains, and attract new investments in the mineral sector.

Prime Minister Modi noted that this decision aligns with India’s commitment to sustainability and the development of indigenous capacities in high-technology materials.

The rationalisation is also expected to create employment opportunities in mining, processing and allied industries, thereby supporting both economic and environmental goals.

Together, these Cabinet decisions outline a coherent policy drive to expand India’s export base, modernise industrial supply chains and promote green industrial growth. They signify an effort to integrate India more deeply into global value chains while reinforcing domestic economic resilience through innovation, investment, and job creation.

Agencies