Indian exporters hail interest subvention on Pre & Post Shipment Export Credit for 5yrs
Updated: Nov 19, 2015 11:39:42am
New Delhi, Nov 19 (KNN) Hailing the government’s decision to provide interest equalization scheme for 5 years, Federation of Indian Export Organization (FIEO) said the interest subvention scheme will provide stability and competitiveness to exports.
“This was long awaited but he is very happy that Scheme has been announced for 5 years which will provide stability and will help the exporters to factor the same in their pricing to become more competitive,” FIEO said.
FIEO said that it is good that Government has announced the Scheme with effect from 1st April, 2015 with 3% benefit for existing sectors of exports and few sunrise sectors of exports.
President, FIEO, S C Ralhan said that credit cost has become all the more important as the cycle of exports has elongated due to global contraction in demand and liquidity forcing the exporters to borrow for longer period. The benefit under Interest Equalization Scheme, for which FIEO vigorously pursued with the Government, will help Indian exporters to compete more effectively against their competitors.
The Cabinet Committee on Economic Affairs has approved for Interest Equalisation Scheme (earlier called Interest Subvention Scheme) on Pre & Post Shipment Rupee Export Credit with effect from 1st April, 2015 for five years.
The scheme will help the identified export sectors to be internationally competitive and achieve higher level of export performance. (KNN Bureau)
“This was long awaited but he is very happy that Scheme has been announced for 5 years which will provide stability and will help the exporters to factor the same in their pricing to become more competitive,” FIEO said.
FIEO said that it is good that Government has announced the Scheme with effect from 1st April, 2015 with 3% benefit for existing sectors of exports and few sunrise sectors of exports.
President, FIEO, S C Ralhan said that credit cost has become all the more important as the cycle of exports has elongated due to global contraction in demand and liquidity forcing the exporters to borrow for longer period. The benefit under Interest Equalization Scheme, for which FIEO vigorously pursued with the Government, will help Indian exporters to compete more effectively against their competitors.
The Cabinet Committee on Economic Affairs has approved for Interest Equalisation Scheme (earlier called Interest Subvention Scheme) on Pre & Post Shipment Rupee Export Credit with effect from 1st April, 2015 for five years.
The scheme will help the identified export sectors to be internationally competitive and achieve higher level of export performance. (KNN Bureau)
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