Government mulls credit card for e-commerce exporters

The central government is exploring the idea of developing a credit card for e-commerce exporters in order to help to alleviate current financial pressures, especially for e-commerce exporters with warehouses abroad. 

“We are working on a larger scheme to promote e-commerce exports to resolve their financial issue,” an anonymous official close to the development told ET Bureau. The proposal is designed to help e-commerce exporters with their short term credit needs amid increasing global trade turmoil and uncertainty over new US import tariffs. 

The proposed credit card would take inspiration from the Kisan Credit Card and would offer lower borrowing costs for exporters than other financial services, the Economic Times reported. Officials lobbying for the initiative are working on obtaining approval from the Expenditure Finance  Committee to move the credit card’s development forward. 

The government is keen to increase Indian exports to boost domestic manufacturing and increase employment opportunities in India. The proposed schemes could run for between five and six years and could also include branding initiatives.