In a bid to enhance mid-size companies to b able to export, Finance Minister Nirmala Sitharaman announced a support to turn successful domestic playes into exporters.
Sitharaman announced, "Many mid-size companies are successful domestically but not in the export markets. For selected sectors such as pharmaceuticals, auto components and others, we propose to extend handholding support for technology upgradations, R&D, business strategy planning and so on."
Sharing details about the support offered, she stated, "A scheme of Rs 1,000 crore will be anchored in the Exim Bank together with the SIDBI. Both these institutions would contribute Rs 50 crore each. This Rs 100 crore would be achieved towards equity and technical assistance. Debt-funding of Rs 900 crore from banks would be made available."