Financial Services Department says Exports contribute nearly 21 percent to India’s GDP

Press Note
New Delhi

Source by : Akashwani News Hub
January 2, 2026 1:05 PM

Financial Services Department says Exports contribute nearly 21 percent to India’s GDP

The Department of Financial Services has highlighted that exports remain a critical pillar of India’s economy, accounting for nearly 21 per cent of GDP and generating robust foreign exchange inflows. With over 45 million people directly and indirectly employed in export-oriented sectors, MSMEs contribute nearly 45 per cent of the country’s total exports, playing a vital role in supporting economic stability and growth.


The Ministry of Finance said that the Financial Services Department implemented the Credit Guarantee Scheme for Exporters (CGSE), to strengthen export competitiveness. It said that CGSE has been operational since 1 December 2025, enabling banks and financial institutions to extend additional financial assistance to exporters during periods of global uncertainty, while supporting diversification of export markets and enhancing global competitiveness.


Under the scheme, additional collateral-free credit support of up to 20 thousand crore rupees is being provided to direct and indirect exporter MSMEs through eligible Member Lending Institutions. More than seventeen hundred applications amounting to eight thousand five hundred crore rupees have been received, of which 716 applications amounting to ver three thousand one hundred crore rupees have been sanctioned, reflecting strong confidence among exporters and MSMEs.


The Ministry said the scheme allows working capital support of up to 20 percent of existing export credit or working capital limits, enabling exporters to strengthen capabilities, ensure business continuity and sustain employment. It added that CGSE will remain operational till 31 March of this year or until guarantees of up to 20 thousand crore are issued.

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