The scheme shall be implemented by the Department of Financial Services (DFS). A management committee formed under the chairmanship of DFS secretary will oversee the progress and implementation of the scheme.
The scheme is expected to enhance the global competitiveness of Indian exporters and support diversification into new and emerging markets, an official release from the cabinet said.
By enabling collateral-free credit access under CGSE, it will strengthen liquidity, ensure smooth business operations and reinforce India’s progress towards achieving the $1-trillion export target.
It is important to extend enhanced financial assistance and adequate time to exporters for diversifying their markets and enhance global competitiveness of Indian exporters, the release added.
ALCHEMPro News Desk (DS)
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