Export Sector Finance problem to be solved soon: Suresh Prabhu

The Commerce Ministry is working with the Finance Ministry and the Prime Minister’s Office to sort out the problem of availability of finance for the export sector, Commerce & Industry Minister Suresh Prabhu has said.

“One big challenge for the export sector is the issue of finance. We have taken it up with the Finance Ministry. Once we have more working capital, in the export field you see more benefits,” Prabhu said.

Exporters have been asking the government to urge banks to loosen their purse strings for the sector as a decline in credit was hitting their performance.