Chairman of The Cotton Textiles Export Promotion Council ( TEXPROCIL), Manoj Patodia, extended his thanks to Piyush Goyal, the Union Minister of Commerce & Industry, Textiles, Consumer Affairs and Food & Public Distribution and M. Sentilnathan, Chairman, ECGC Ltd for the announcement of a new scheme to provide enhanced export credit risk insurance cover to the extent of 90 per cent to support small exporters under the Export Credit Insurance for Banks Whole Turnover Packaging Credit and Post Shipment (ECIB- WTPC & PS).
"The enhanced export credit risk insurance cover will enable the small exporters in the textile sector to explore new markets/new buyers and diversify their existing product portfolio competitively", said Patodia.
The new scheme shall be available for the manufacturer- exporters availing fund-based export credit working capital limit of up to Rs 20 crores (i.e., total Packaging Credit and Post Shipment limit per exporter/exporter-group).
"The new scheme will enable small exporters to get export credit from the banks at a lower rate of interest", according to the Chairman, TEXPROCIL.
This story is provided by PNN.will not be responsible in any way for the content of this article. (ANI/PNN)
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor