High interest rates deterrent for MSME exporters; working with FinMin: DGFT

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High interest rates deterrent for MSME exporters; working with FinMin: DGFT

//business-finance.news-articles.net/content/202 .. for-msme-exporters-working-with-finmin-dgft.html

Published in Business and Finance on Wednesday, December 18th 2024 at 4:00 GMT by Business Standard
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The country's high interest rates are a big deterrent for exporters community and the commerce ministry is working with its finance counterpart to help them at this front, a senior government official said on Wednesday.

The article from Business Standard discusses the challenges faced by Micro, Small, and Medium Enterprises (MSMEs) in India due to high interest rates, which are deterring their export capabilities. The Federation of Indian Export Organisations (FIEO) has been engaging with the Finance Ministry and the Directorate General of Foreign Trade (DGFT) to address these issues. High interest rates increase the cost of borrowing, making it difficult for MSMEs to finance their operations and expansion plans. This situation is particularly critical as these enterprises are vital for India's export growth. The discussions aim to find solutions like interest subvention schemes or other financial support mechanisms to alleviate the burden on MSME exporters, thereby enhancing their competitiveness in the global market.

Read the Full Business Standard Article at:
[ https://www.business-standard.com/economy/news/high-interest-rates-deterrent-for-msme-exporters-working-with-finmin-dgft-124121800581_1.html ]