New Delhi, Feb. 20 -- Inter-ministerial consultations are set to commence for finalising schemes under the Export Promotion Mission, senior government officials announced Monday.

The initiative, allocated Rs 2,250 crore in the FY26 Budget, will primarily focus on addressing export credit challenges faced by micro, small and medium enterprises (MSMEs) and promoting alternative financing mechanisms such as factoring.

Director General of Foreign Trade Santosh Kumar Sarangi confirmed that the Ministry of Finance, Ministry of MSMEs, and Department of Commerce are collaboratively developing the mission's schemes, which will require Cabinet approval upon completion.

A key focus of the initiative is alleviating the burden of high collateral re...