New Delhi, Nov. 13 -- Prime Minister Narendra Modi announced that recent Union Cabinet decisions aim to enhance India's global competitiveness and self-reliance, particularly for MSMEs.

The Cabinet approved the Export Promotion Mission (EPM) with a budget of Rs 25,060 crore to bolster India's export ecosystem. The EPM is designed to support MSMEs and first-time exporters, ensuring "Made in India" resonates globally.

Additionally, a Credit Guarantee Scheme for Exporters was established to offer 100% credit guarantee coverage for additional facilities up to Rs 20,000 crore to eligible exporters.

The Cabinet also rationalized royalty rates for critical minerals-caesium, rubidium, and zirconium-aiming to boost sustainability, self-reliance...