STEEL EXPORTS GUARANTEE FUND
The
Government proposes to set up a dedicated fund to help the domestic
steel producers on the export front. The preliminary draft National
Steel Policy 2003 suggests creation of such a fund as the improved
performance of the steel companies during the past one and a half
years is mainly on account of exports. Though no specific amount
has been mentioned in the draft policy document as an initial
corpus, it has been suggested that the corpus will be build up
with seed money from the Centre and refundable contributions from
the industry to meet specific requirements of the sector.
To give a further
boost to exports, the draft policy has stated that export credit
guarantee schemes should be suitably modified to cater to the
needs of large funds required for steel exports.
