'Expect to soon come out with details of Nirvik scheme'

New Delhi,Commerce & Industry Minister Piyush Goyal on Friday said that he expects to soon come out with the details of the "Nirvik" scheme which is before the cabinet.

The scheme is meant to ease access to financing for exports.

Speaking at industry body Assocham's AGM here, Goyal asked large industrial players to aid their suppliers to fulfil their short-term credit needs.

He said that the government is trying to do the same with the credit requirement for exports.

"... I am hopefully going to soon be able to come out with Nirvik scheme's details which are now before the cabinet," Goyal said.

The scheme "Nirvik" envisages to provide higher insurance coverage to banks on their export credit through ECGC (Export Credit Guarantee Corporation of India).

Under the scheme ECGC will expand the export credit insurance cover for the working capital loans and moderation in premium incidence for exporters to enable lower interest rates for export credit.