New Delhi: The government will soon release guidelines on extending foreign exchange credit to exporters at affordable rates, Commerce Minister Piyush Goyal said on Thursday while expressing concern over a decline in the availability of export credit.
“We are concerned that it (export credit) has fallen, and will come up with the contours of a vibrant programme (to address the issue) soon, which will particularly support micro, small and medium enterprises,” Goyal said while addressing the meeting of the Board of Trade here.
The programme, more importantly, will make foreign exchange credit available to exporters at competitive rates, he said, adding that the rates were likely to be in the sub-four per cent category.
He said the ministry was waiting for Finance Minister Nirmala Sitharaman to take a call on some of the issues on export credit.
The bankers are on board and “…we shall shortly be coming out with the contours that have been finalised between the Reserve Bank of India (RBI), the finance ministry and the commerce ministry,” he added.
Export credit disbursement declined 23 per cent in 2018-19 to Rs 9.57 lakh crore from Rs 12.39 lakh crore in 2017-18.
He also said the ministry would notify new anti-dumping rules this month.