Government Launches Rs 7,295-Crore Support for Exporters

The government has unveiled a Rs 7,295-crore package for exporters, featuring an interest subvention scheme and collateral support. These measures aim to enhance credit access for MSME exporters, addressing high credit costs and collateral challenges, thereby boosting their competitiveness in global markets.

The government announced a substantial Rs 7,295-crore export support package on Friday. Key components include a Rs 5,181-crore interest subvention scheme and a Rs 2,114-crore collateral support initiative.

These efforts, set to unfold over six years from 2025 to 2031, are designed to improve credit access for exporters, especially MSMEs, amid rising global trade barriers.

Commerce Ministry's Additional Secretary, Ajay Bhadoo, emphasized that these schemes will address exporters' trade finance challenges. With subsidies on pre- and post-shipment export credit, the interest subvention scheme aims to cut credit costs for MSMEs, making their products more competitive globally.

(With inputs from agencies.)