Cabinet nod to ₹45k-cr export schemes

TO HELP EXPORTERS tide over the tariff turbulence, the government on Wednesday announced a %45,060 crore package that will help reduce their credit costs and fast-track market diversification.

- MUKESH JAGOTA

A new Export Promotion Mission (EPM) will cost the exchequer ¥25,060 crore over sixyears, with its principal component being an interest subvention. Promotion of alternative financing instruments like factoring, collateral support, credit enhancement for riskier markets and credit cards for e-commerce exporters are also part of the mission.

Another scheme approved by the Cabinet will offer additional credit support for exporters, including Micro Small and Medium Enterprises (MSMEs). This scheme will run till March 2026 and could be extended beyond that period if required, Information and Broadcasting minister Ashwini Vaishnaw said.

The Credit Guarantee Scheme for Exporters (CGSE) provides for 100% credit guarantee coverage by National Credit Guarantee Trustee Company (NCGTC) to member lending institutions for extending additional credit facilities up to 20,000 crore to eligible exporters, including MSMEs.