India, Feb. 3 -- In a major boost to the country's export sector, finance minister Nirmala Sitharaman, during her eighth consecutive Union Budget speech on February 1, announced establishing an Export Promotion Mission to be driven jointly by the commerce, MSME and finance ministries.

"We will set up an Export Promotion Mission, with sectoral and ministerial targets, driven jointly by the Ministries of Commerce, MSME, and Finance. It will facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets," the minister said, emphasising that exports are the fourth growth engine.

According to the Union minister, this mission will facilitate easy access to export...