Mega export schemes get nod

The Union cabinet on Wednesday approved two major initiatives worth a combined %45,060 crore to strengthen India’s export ecosystem and ease liquidity pressures for exporters.

- Dhirendra Kumar [e-mail]

The scheme is aimed at easing liquidity constraints.

(AFP)

The cabinet cleared the launch of the Credit Guarantee Scheme for Exporters (CGSE) and the Export Promotion Mission (EPM), together marking a significant policy boost for Indian exporters, especially MSMEs (micro, small and medium enterprises).

Under the credit guarantee scheme, the National Credit Guarantee Trustee Co. Ltd will provide 100% credit guarantee coverage to banks and financial institutions for extending additional collateral-free loans of up to ₹20,000 crore to eligible exporters, including MSMEs.