New Delhi, Feb. 1 -- Finance minister Nirmala Sitharaman on Saturday, 1 February, unveiled an Export Promotion Mission, spearheaded by the ministries of commerce, finance, and micro, small, and medium enterprises (MSME), to position exports as a key driver of economic growth.

Part of the budget announcements for 2025-26, the initiative aims to narrow India's trade deficit, which hit a record $32.8 billion in November 2024. As part of the plan, the finance ministry will streamline credit access for exporters, addressing a major hurdle for businesses seeking global markets.

Earlier, Mint reported that the government was working on a model to support MSMEs with export financing, helping shield them from payment defaults by importing countr...