India Needs More Funds, Experts to Boost Exports: GTRI
Chennai: In order to diversify exports, India needs increasing allocation and expertise experts to promote trade in overseas markets.
As India’s exports to the United States fall, it will take time to find alternatives. The export of clothing, shoes and bags depends on large global retailers who require years proven harmony, quality and reliability before changing orders.
Many developing markets in Latin America and Africa lack scale or organized retail systems to absorb large volumes. Since January 2026, global trade and slowing the EU’s challenging environmental laws will increase the obstacles further. Discounted Chinese products are another challenge. Unlike commodities, this export is based on confidence and relationships, which makes it difficult to diversify rapidly.
Diversification of exports to new markets will not take place overnight. However, reducing costs through revitalized plans and encouraging Indian products in other markets can help expand expanding exporters beyond the United States.
According to GTRI, export promotion financing continuously decreased and support for small and medium -sized exporters weakened. The previous MEIS scheme had an expenditure of 45,000 RS and supported 40,000 exporters.
It was removed in 2020 and replaced with approximately 20,000 RS Crore allocation with Rodtep and Rosctl. GTRI said, “Most of the funds were shifted to the PLI plan with limited payments that benefit less than 100 companies. In order to reclaim the balance, India should allocate large -based export plans in higher amounts of higher amounts of higher amounts and continue to PLI for large -scale sectors by providing widespread support for MSMEs”.
Meanwhile, India’s overseas trade duties continue to be inadequate with only 250 Crore budget and are mostly assigned by general diplomats with limited trade expertise. On the other hand, countries such as the US and China use large professional trade officers to introduce their industries abroad in an aggressive way.
India should renew this system by increasing the budget to a great extent. This can support receiver connections, market intelligence and exporters in the fight against non -tariff barriers.
