New Delhi, Feb. 5 -- The Export Promotion Mission (EPM) has outlined its strategic allocation of its Rs 2,250 crore budget, with a primary focus on enhancing export credit accessibility for MSMEs and promoting alternative financing mechanisms.

Director General of Foreign Trade Santosh Kumar Sarangi revealed that while Rs 200 crore has been earmarked for the Market Access Initiative and Rs 50 crore for lab-grown diamonds, the majority of funds will be directed toward developing comprehensive export credit schemes and addressing non-tariff barriers.

The initiative, to be jointly designed by the Ministry of Finance and Ministry of Commerce, marks a departure from the previous interest subsidy scheme for export credit that concluded on Dece...