Core Points - India's cabinet has approved a spending plan of 450.6 billion rupees ($5.1 billion) to support exporters, which includes 200 billion rupees in credit guarantees for bank loans [1] - The plan allocates 250.6 billion rupees over six years for affordable trade finance aimed at small exporters, logistics, and market support to mitigate the impact of recent U.S. tariff hikes [2] - Labour-intensive sectors such as textiles, jewellery, and seafood have been significantly affected, with margins as low as 3%-5%, leading to job losses in key industrial regions [3] Financial Support Details - The credit guarantee program will run until March 2026, providing collateral-free bank loans to exporters to enhance competitiveness and explore new markets [3] - Credit guarantees will be available for loans up to 500 million rupees [3] Export Market Impact - Nearly 55% of India's exports to the U.S., valued at approximately $48 billion, are at a cost disadvantage compared to competitors from Vietnam, China, and Bangladesh [4] - India's merchandise exports to the U.S. fell nearly 12% year-on-year to $5.43 billion in September, following the implementation of 50% tariffs [5]