The Union Cabinet has approved a new Credit Guarantee Scheme for Exporters, offering 100 per cent credit guarantee to exporters, including MSMEs. This scheme will provide up to ₹20,000 crore in additional credit, strengthening liquidity and enhancing India’s global competitiveness. Briefing media about Cabinet’s decisions in New Delhi yesterday, Information and Broadcasting Minister Ashwini Vaishnaw said, the scheme aims to support India’s one trillion dollar export target and promote the vision of Aatmanirbhar Bharat.
In another decision, the Cabinet has revised royalty rates for key minerals like caesium, graphite, rubidium, and zirconium. Mr Vaishnav said, this will encourage auctioning of mineral blocks and boost the domestic production of critical minerals such as lithium, tungsten, and niobium. Increased production will reduce imports, cut supply chain vulnerabilities, and create more employment opportunities in India.
The Union Cabinet also approved the Export Promotion Mission (EPM) with an outlay of over 25 thousand crore rupees. This is a flagship initiative, announced in the Union Budget 2025-26 to strengthen India’s export competitiveness, particularly for MSMEs, first-time exporters, and labour-intensive sectors.
Mr Vaishnaw informed that the mission will provide a comprehensive, flexible, and digitally driven framework for export promotion, for Financial Year 2025-26 to Financial Year 2030-31. He added that EPM marks a strategic shift from multiple fragmented schemes to a single, outcome-based, and adaptive mechanism that can respond swiftly to global trade challenges and evolving exporter needs.
