The mission aims to provide a major boost to Micro, Small and Medium Enterprises (MSMEs) by offering interest subvention to exporters, thereby enhancing their global competitiveness amid a global milieu marked by increasing protectionsim and trade barriers.
“This initiative will empower MSME exporters with better access to affordable credit and help them scale up their operations,” said Vaishnaw.
The Cabinet also approved the expansion of the credit guarantee scheme for exporters, with an outlay of ₹20,000 crore. The move is expected to reduce credit risk for lending institutions and encourage greater financial support to exporters.
The Cabinet also expressed deep sorrow over the recent terrorist attack at the Red Fort that claimed at least 12 lives.
Extending condolences to the bereaved families, the Cabinet reiterated its unwavering commitment to a policy of zero tolerance towards terrorism in all its forms and manifestations.
(Edited by : Ajay Vaishnav)