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Assures all support from Banks at the Banking Conclave on Exports in Mumbai Export Oriented Policies of Government have created eco-system for export led growth - Minister Union Minister of State for Finance, Dr Bhagwat Karad today expressed confidence that with businesses expanding after a lu
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FAQ :
The Minister believes it's the right time because the economy is rebounding, businesses are expanding after the COVID-19 pandemic, and government export-oriented policies have created a suitable ecosystem for export-led growth.
Merchandise exports in the first 8 months of 2021-22 touched US$233 billion, registering a 54% growth over the previous year.
Prime Minister Modi has set a target of US$400 billion for merchandise exports during the current fiscal year.
The Production Linked Incentive (PLI) Scheme, covering 13 key sectors, and the Emergency Credit Line Guarantee Scheme (ECLGS) are positively impacting manufacturing and promoting exports.
The banking system has significantly improved, and the Minister assured full support from banks to exporters. The RBI has also enhanced the limit for export credit under priority sector lending.
The conclave focused on the role of banks in promoting exports, export trade-related banking guidelines, export finance, and export bill discounting issues.
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