New Delhi, Jan 1 (IANS) Under the Credit Guarantee Scheme for Exporters (CGSE), 1,788 applications amounting to Rs 8,599 crore have been received till December 31, out of which a total of 716 applications have been sanctioned amounting to Rs 3,141 crore, which reflects a strong confidence among exporters and MSMEs, the government said on Thursday.
CGSE scheme is open till March 31, 2026 or until guarantees of value upto Rs 20,000 crore are issued. The scheme is being implemented by Department of Financial Services (DFS) through National Credit Guarantee Trustee Company Limited (NCGTC).
The CGSE has been made operational through Jan Samarth Portal since December 1, enabling banks and financial institutions (Member Lending Institutions or MLIs) to extend additional financial assistance to Indian exporters during a period of uncertain headwinds.
Further, the measure shall diversify export markets and enhance their global competitiveness.
The objective of this proactive intervention is to provide a credit guarantee for exporters and MSMEs which will facilitate additional credit for them. This will thereby provide liquidity, ensure business continuity and create opportunities to expand into new markets, according to Finance Ministry.
The scheme envisages additional collateral-free credit support of up to Rs 20,000 crore to direct and indirect exporter MSMEs through eligible MLIs.
With a working capital loan amount equivalent upto 20 per cent of their existing export credit/working capital limits, the scheme will facilitate exporters and MSMEs to develop capabilities and enhance their global competitiveness as well as take steps towards diversification into new and emerging markets.
With over 45 million people being directly and indirectly employed under the export-oriented industries, the MSMEs contribute nearly 45 per cent of total exports.
Such a sustained export growth has been instrumental in supporting India’s current account balance and macroeconomic stability.
—IANS
na/
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
