Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
The Directorate General of Foreign Trade
( DGFT ), vide trade notice no.
40/2023-2024 dated 20th March 2024 has issued an amendment under the
Interest Equalization Scheme. The authority is to impose a cap of Rs. 2.5
crores per IEC from 1st April 2024 to 30th June 2024.
Attention
of Trade and Industry is drawn towards the extension of Interest Equalization Scheme ( IES )
upto 30.06.2024, as notified by RBI vide its Circular
No. DOR.STR.REC. 78/04.02.001/2023-24 dated 22.02.2024.
The Interest Equalization Scheme is
a government initiative designed to aid exporters in preserving their
competitive edge in the global market. Through this program, the government
provides subsidies on interest rates for loans acquired by exporters, primarily
for pre-shipment and post-shipment credit purposes.
The Government has recently extended the duration of
the Interest Equalization Scheme for pre and post-shipment rupee export credit, now effective until June 30, 2024.
Furthermore, the Union Cabinet has sanctioned an extra
allocation of Rs. 2500 Crore to prolong the sustainability of the Interest
Equalization Scheme until June 30, 2024.
This decision is geared towards offering assistance to exporters operating
within specified sectors, as well as all MSMEs engaged in
manufacturing and exporting.
The extension of the scheme allows these entities to
avail competitive rates for both pre and post-shipment Rupee export credit,
thus nurturing a favourable environment for their international trade
endeavours.
