Commerce Ministry wants export sector under priority lending
Commerce Minister Suresh Prabhu recently said that the Commerce Ministry wants to include export sector under priority sector lending. "Exports must be treated as priority sector lending and we are talking to Finance Ministry and the Reserve Bank of India. How do you say priority of India is export when it is not a priority for lending?" he asked at the FIEO event recently.
The Government would ensure that the Country's global mission would support exporters and for which a paper has been prepared, he said. "We are talking to Finance and External Affair Ministry time and again. Promoting exports will need opening of our missions abroad. It requires Cabinet approval like Japan's Jetro or Australia's Austrade.
We must have this," he added.