Govt steps in to address finance concerns of exporters – Times of India
NEW DELHI: The commerce department has stepped in to work out a long-term solution to the credit woes of exporters, especially the smaller players, who are complaining of lack of access to finance with banks and RBI remaining mere spectator.Among the options being discussed is a credit guarantee fund for export finance, modelled on the lines of the post-Covid loan package, that will free businesses from the requirement of providing collaterals.Problems with access to credit are in addition to the cost of credit, which has soared and is a major cause for concern at a time when freight rates have already surged in the wake of tension in West Asia, forcing ships to change their course and take a longer and more expensive route.Data shared by exporters with commerce and industry minister Piyus...