New Delhi, Jan 28 (KNN) According to the National Bank for Agriculture and Rural Development (NABARD), Gujarat has performed poorly in providing access to credit to exporters despite being a leading state in exports.

Releasing its annual State Focus Paper for 2023-24, the bank pointed out the Delhi, Tamil Nadu and West Bengal were ahead of Gujarat in providing credit, reported Indian Express. 

Significantly higher than the national average of 0.6 per cent, Delhi, Tamil Nadu and West Bengal are the states performing best in credit off-take.

They provide export credit of 5.31 per cent, 2 per cent and 1.08 per cent of the state GDP respectively.

“On the other hand, leading export states like Gujarat and Maharashtra, which are comparable to Tamil Nadu and West Bengal in terms of providing banking facilities, have lagged because of providing relatively low export credit,” NABARD stated. 

It also suggested Gujarat to use the IFSC platform at GIFT City to boost credit flow to exporters.  (KNN Bureau)