The Union Cabinet has cleared a new Credit Guarantee Scheme for exporters, a move aimed at strengthening India’s trade ecosystem and giving businesses greater confidence to expand globally. The scheme is designed to reduce financial risks and provide timely support to exporters, especially small and medium enterprises.
Announcing the decision, Prime Minister Narendra Modi said the initiative will boost competitiveness and enhance self-reliance among Indian exporters. He emphasized that by safeguarding businesses against payment defaults and easing access to credit, the scheme will encourage more enterprises to explore international markets.
The Cabinet also highlighted that the scheme is part of a broader effort to make India’s exports more resilient and diversified. By combining financial security with policy support, the government hopes to create a stronger foundation for sustainable growth in the sector.
Industry leaders have welcomed the announcement, noting that the scheme will not only empower exporters but also contribute to job creation and economic development. The decision reflects the government’s commitment to positioning India as a competitive and self-reliant player in the global economy.
