Nirmala Sitharaman, the Union Minister of State for Commerce and Industry, has said that the government will soon announce an interest subvention scheme to help exporters whose trade has declined due to weak global demands. The Minister was in Coimbatore to inaugurate the School of Commerce at the PSG College of Arts and Science.

“We are continuing our efforts to address the problems faced by exporters. Each category has its own problems. We will soon come out with an interest subvention scheme for these exporters,” she told reporters in Coimbatore.

Stating that the Government was aware of the decline in exports, she said that the scheme was awaiting cabinet clearance.

On the Government’s plans to import pulses due to increase in demand, she said that the initial monsoon was favourable and that the land under cultivation for pulses have increased. “We don’t know yet about the outcomes, but there definitely is a shortfall in pulses, which has led to increased prices,” she said.

With some consignments having already arrived and some on the way, the Minister said that it will help bring the prices down.