Lending a helping hand: New support schemes for small exporters on cards

Scheme in works to help MSMEs access credit without collateral; aims to support 100,000 exporters

The government is designing new support schemes, especially for small exporters to help them avail collateral-free loans and partially fund the compliance needs for non-tariff measures being implemented by developed nations. These would also help promote alternative financing instruments via cross-border factoring support, and provide assistance for risky markets. 

An inter-ministerial panel, also comprising officials from the ministries of commerce, finance and micro, small and medium enterprises (MSMEs), is working on these schemes under the Rs 2,250 crore Export Promotion Mission announced in the Budget. 

Since the finance ministry did not approve the continuation of a key export-boosting scheme —