ENA Sectors 2024-04-12 17:09:04 <p><span style="font-size:14px"><strong>New Delhi, Apr 12 (KNN)</strong> The Commerce Ministry is likely to seek a substantial five-year extension of the interest equalisation scheme on pre- and post-shipment rupee export credit, an official source revealed.</span></p> <p><span style="font-size:14px">This move aims to bolster India's export performance and fuel growth in the sector.</span></p> <p><span style="font-size:14px">The current iteration of the scheme, introduced on April 1, 2015, is set to expire on June 30, 2024. Initially intended to run for five years until March 31, 2020, the scheme has already received one extension.</span></p> <p><span style="font-size:14px">According to the official, the ministry plans to revamp certain export promotion schemes, with the interest equalisation programme being a key focus.</span></p> <p><span style="font-size:14px"> We would propose an extension of the scheme for five years. The scheme is doing good and it is helping the exporters, the official stated.</span></p> <p><span style="font-size:14px">The interest equalisation scheme has proven beneficial for exporters by providing them with affordable credit facilities. In December 2023, the Union Cabinet approved an additional allocation of Rs 2,500 crore to continue the scheme until its current June 30 deadline.</span></p> <p><span style="font-size:14px">By extending the scheme for another five years, the government aims to maintain a supportive financial environment for exporters, enabling them to remain competitive in global markets and drive sustained growth in the country's outbound shipments.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37399 https://knnindia.co.in/news/newsdetails/sectors/commerce-ministry-eyes-extension-of-interest-equalisation-scheme-to-drive-export-growth 2024-04-12 17:09:04 knnindia.co.in