New Delhi | Prime Minister Narendra Modi on Thursday said the decisions of the Union Cabinet regarding exports will improve global competitiveness and help realise the dream of self-reliance.

The Union Cabinet, at a meeting chaired by Modi on Wednesday, approved the export promotion mission and a credit guarantee scheme for exporters.

"Ensuring 'Made in India' resonates even louder in the world market! The Union Cabinet approved the Export Promotion Mission (EPM), which will improve export competitiveness, help MSMEs, first-time exporters and sectors that are labour-intensive," Modi said in a post on X.

"It brings together key stakeholders to build a mechanism that is outcome based and effective," he said.

The prime minister also said the Credit Guarantee Scheme for Exporters, which has been approved by the Cabinet, will boost global competitiveness, ensure smooth business operations and help realise our dream of an Aatmanirbhar Bharat.

Modi said the decision to rationalise the royalty rates of graphite, caesium, rubidium and zirconium will strengthen supply chains and create job opportunities.

The Cabinet also approved rationalisation of royalty rates of graphite, caesium, rubidium and zirconium minerals critical for Green Energy.

"This Cabinet decision will boost sustainability and self-reliance. It will strengthen supply chains and create job opportunities as well," the prime minister said.