Two export industry related news.
Hon'ble Union Minister has made a request to export credit guarantee corporation.
Credit guarantee is provided to an exporting company for a maximum of Rs 20 crores. (This does not apply to exports of Gems and Jewellery).
The Minister has demanded that this amount should be increased to 40 crore rupees.
Through this we can get export insurance to the extent of 90%.
The Union Minister has also requested to simplify this as there is currently a lot of documents to be submitted to get this credit guarantee.
Export of sugar is currently permitted under quota system.
It is likely that the restrictions on sugar exports will continue as the production has decreased significantly this year.
We have exported 110 lakh tonnes of sugar last year.
But this year it seems that the export will be less than that.
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