In a significant move set to revolutionize India's export landscape, the government is actively formulating a pioneering scheme to completely cover the product registration costs for Micro, Small, and Medium Enterprises (MSMEs) venturing into new international markets.This landmark initiative, revealed by Union Commerce and Industry Minister Piyush Goyal, aims to eliminate a major financial and procedural hurdle that has long constrained the global ambitions of India's small businesses. For the dynamic startup ecosystem, often characterized by innovative products but limited resources, this news promises an unprecedented opportunity to access global consumers.

Speaking to an Indian business delegation in Switzerland, Minister Goyal articulated the essence of the proposed scheme: "I am thinking of coming out with a scheme that any MSME that needs to spend any amount of money to register their products anywherein the world, particularly for new products, new markets, new exporters, the government will fund the whole cost." This direct commitment to absorb the entire expense underscores the government's strategic intent to bolster MSME participation in global trade.

The process of registering a product in a foreign market, encompassing certifications, intellectual property protection, and compliance with diverse regulatory frameworks, can be prohibitively expensive and complex. For MSMEs, which typically operate with lean budgets, these costs often act as an insurmountable barrier, stifling their potential for international expansion. By taking on this financial burden, the government is not just offering a subsidy; it's unlocking access to a world of new opportunities.

This scheme is envisioned as a vital component of the broader Export Promotion Mission (EPM), a comprehensive strategy announced in the Union Budget.The EPM is designed with around a dozen integral elements to invigorate India's export capabilities.These include streamlining credit access for MSMEs, providing robust support for e-commerce exporters, facilitating overseas warehousing solutions, and spearheading global branding initiatives.The mission is structured under two main pillars: "NIRYAT PROTSAHAN" (providing trade finance support) and "NIRYAT DISHA" (driving international holistic market access).

MSMEs are the true engines of India's economic growth, contributing over 40% of the nation's total exports.In the fiscal year 2024-25, India's combined exports of goods and services reached an impressive $825 billion, a notable increase from $778 billion in the previous fiscal. This upward trajectory underscores the immense, untapped potential of the MSME sector, which this new scheme aims to fully unleash.

Furthermore, Minister Goyal urged Indian industry to shift its focus towards exporting higher value-added goods and to invest actively in global brand building and marketing."I would urge you to come with an idea for the government to support (exporters) in brand building, in getting registrations around the world," he encouraged, signaling a collaborative approach to enhancing the "Made in India" brand's global appeal.

Beyond this targeted scheme, the government is also strategically expanding its network of Free Trade Agreements (FTAs) with key global partners. Recent successes include FTAs with the UAE and Australia, with ongoing negotiations with the European Union, Oman, and New Zealand. These agreements are crucial for providing preferential market access and fostering a more conducive international trade environment for Indian exporters.

For Indian startups, especially those developing innovative products and services with global appeal, this proposed scheme is a game-changer. It directly addresses a critical pain point, enabling them to navigate international regulatory landscapes without crippling financial strain. This forward-looking initiative is set to significantly lower the barrier to entry for Indian product-led startups, empowering them to compete and thrive in markets worldwide and solidify India's position as a global exporting powerhouse.