New Delhi [India]: Commerce and Industry Minister Piyush Goyal has said the government is willing to bear the entire cost of expensive certifications for micro and small enterprises under the Export Promotion Mission, EPM, to help Indian businesses access global markets.
Addressing reporters in Berlin on his two-day visit to Germany, Mr Goyal urged existing and prospective exporters to approach the Directorate General of Foreign Trade for assistance with certifications and regulatory compliance. He said the government would also support micro and small enterprises in meeting European Union requirements, including the Carbon Border Adjustment Mechanism and the EU Deforestation Regulation. Support for other businesses would be provided on a graded basis.
The Export Promotion Mission, approved in November last year with an outlay of 25,060 crore rupees over six financial years, is being implemented through two sub-schemes: Niryat Protsahan, with an allocation of 10,401 crore rupees, and Niryat Disha, with 14,659 crore rupees.
Mr Goyal also said German companies increasingly view India as a strategic hub for manufacturing, research and development, and innovation, in addition to being a major consumer market. During his visit, he held meetings with representatives of Siemens Healthcare, Bertelsmann Investment, Volkswagen and Skoda to discuss opportunities to strengthen trade and investment between the two countries.
Highlighting the potential of closer cooperation, the Minister said German expertise in precision and research, combined with India’s skilled workforce and manufacturing capabilities, could strengthen India’s global position. He added that bilateral ties offer opportunities not only in trade in goods and services, but also in talent exchange, innovation, joint design, development and manufacturing.
Around 2,000 German companies currently operate in India, reflecting the depth of industrial and commercial ties between the two countries.
[AIR News]