Commerce & Industry Ministry clocks hectic week to push exports, big projects

New Delhi, July 13 The Ministry of Commerce and Industry has concluded a hectic week with Union Minister Piyush Goyal travelling across the country from Srinagar in the north to Bengaluru in the south for chairing various meetings to give a fillip to exports and industrial projects.

The minister held a crucial meeting with the Chairman of the State Bank of India and senior executives from other leading banks, ECGC Ltd., and department officials in Mumbai to review and explore opportunities related to export credit.

Based on ECGC’s experience under the scheme of enhanced cover, ECGC has now proposed further modifications to make available adequate and affordable credit to a larger section of MSME exporters. The product facilitates the borrower accounts to be treated equivalent to ‘AA’ rated accounts with reduced cost of export credit to the exporters.

In the meeting, Goyal said the ECGC can examine the extension of the scheme proposed for nine banks to all banks, so that the export credit offtake for the MSME Exporters can be increased.

The minister visited Srinagar and met the delegation from the Kashmir Chamber of Commerce & Industry and the Kashmir Chapter of the MSME Development Forum. He also met representatives of the Jammu & Kashmir Fruits and Vegetable Processing and Integrated Cold Chain Association.

In a clear message to traders in the region, the minister emphasised that the Centre will not compromise on sensitive sectors or regional concerns while negotiating market access with foreign partners. “Traders need not worry. Whatever FTA we sign will keep the interests of Jammu and Kashmir and the entire country in mind,” he explained.

In Bengaluru, the minister visited two Aerospace Special Economic Zone (SEZ) units: Unimech Aerospace Manufacturing Limited and Safran Hindustan Aeronautics Limited (HAL) Aircraft Engines Private Limited, both located at the Karnataka Industrial Areas Development Board (KIADB) Aerospace SEZ in Devanahalli.

A review meeting was held to address key issues affecting major infrastructure projects in Gujarat and Rajasthan through the Project Monitoring Group (PMG) mechanism. The Centre fast-tracked big-ticket infrastructure projects worth over Rs 36,296 crore in Gujarat and Rajasthan at the meeting.

A total of 22 issues related to 18 critical projects were taken up at the meeting. Among the major initiatives discussed was the Transmission System Strengthening Scheme for the evacuation of power from solar energy zones in Rajasthan and Gujarat, with a projected investment of Rs 14,147 crore.

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