The Cabinet has approved Additional allocation of Rs 2500 crore for continuation of Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit till 30.06.2024. This would help exporters from identified sectors and all MSME manufacturer exporters to avail pre and post shipment Rupee export credit at competitive rates.
Benefit shall be continued till 30.06.2024 to manufacturer and merchant exporters of the identified 410 tariff lines and to all manufacturer exporters from MSME sectors at rates as specified. The scheme shall be implemented by RBI through various Public and non-Public Sector banks who provide pre and post shipment credit to the exporters. The Scheme is jointly monitored by DGFT and RBI through a consultative mechanism.
The scheme is primarily meant for the labour intensive sectors. The present proposal is meant for exports by merchants and manufacturer exporters of identified tariff lines and MSME Sector manufacturer exporters. Increase in exports from these employment intensive sectors and MSMEs would lead to generation of employment in the country.
