Prime Minister Narendra Modi has said that the credit guarantee scheme for Exporters, approved by the Union Cabinet yesterday, will boost global competitiveness, ensure smooth business operations and will help India become a self-reliant nation.
In a series of social media posts, Mr. Modi lauded the decisions taken by the Union Cabinet. He added that the Export Promotion Mission (EPM) will improve export competitiveness, help MSMEs, first-time exporters and sectors that are labour-intensive.
Mr. Modi mentioned that EPM brings together key stakeholders to build a mechanism that is outcome based and effective. The Prime Minister further asserted that the Union Cabinet’s decision of rationalization of royalty rates for critical minerals will boost sustainability and self-reliance.
He highlighted that this move will strengthen supply chains and create new job opportunities.
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