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Indian govt extends Interest Equalization scheme for 2 months

01 Jul '24

2 min read

Indian govt extends Interest Equalization scheme for 2 months

Pic: Adobe Stock

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India has extended the IES for pre- and post-shipment rupee export credit for MSMEs until August 2024.
Initially set to end on June 30, the scheme's ₹750 crore (~$89.9 million), outlay remains unchanged.
Exporters urged the government to increase subvention rates to 5 per cent due to rising repo rates and address the monopoly of foreign shipping companies.

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