The Government of India, through the Department of Commerce and DGFT, has launched an Interest Subvention scheme for Pre- and Post-Shipment Export Credit under the EXPORT PROMOTION MISSION – NIRYAT PROTHSAHAN, effective immediately. This initiative aims to provide MSME exporters with reduced-cost rupee export credit, improving access to working capital and enhancing liquidity. The scheme offers an interest subvention of 2.75% per annum, applicable to pre- and post-shipment export credit, with a maximum benefit of Rs 50 lakh per financial year per exporter. The subvention is available only for eligible MSME manufacturer and merchant exporters under a notified list of HSN six-digit tariff lines, following RBI guidelines on export credit. The program is being implemented on a pilot basis through the Reserve Bank of India to facilitate early access and stakeholder feedback. Public comments on the draft guidelines are invited within 30 days, and the final framework will be refined based on pilot learnings and stakeholder inputs.
Government of India
Ministry of Commerce & Industry
Department of Commerce
Trade Notice No. 20/2025-26- DGFT | Dated: 02nd January 2026
Subject: Launch of Interest Subvention for Pre- and Post- Shipment Export Credit under EXPORT PROMOTION MISSION – NIRYAT PROTHSAHAN – regarding
The Interest Subvention for Pre- and Post- Shipment Export Credit intervention under the EXPORT PROMOTION MISSION – NIRYAT PROTHSAHAN is hereby launched with immediate effect to facilitate improved access to pre- and post-shipment rupee export credit for MSME exporters by reducing the cost of such credit and provide a rules-based and transparent interest-relief mechanism aimed at enhancing liquidity for MSME exporters and enabling them to meet working-capital requirements efficiently.
The detailed Guidelines for implementation of Interest Subvention for Pre- and Post- Shipment Export Credit are enclosed in the Annexure-I.
2. Implementation Framework and Key Benefits for Exporters
The intervention is being operationalised through the Reserve Bank of India on a pilot basis. Salient features for exporters include:
i. The rate of interest subvention @ 2.75 % per annum will be available on Pre Shipment Rupee Export Credit and Post Shipment Rupee Export Credit for Micro, Small Enterprises, and Medium Enterprises;
ii. An MSME exporter may receive a maximum subvention benefit of Rs 50 lakh per financial year.
iii. Support limited to export credit extended by lending institutions in accordance with the Reserve Bank of India’s Master Directions on Pre- and Post-Shipment Export Credit; iv. Applicability to MSME manufacturer exporters and merchant exporters under the notified positive list of HSN six-digit tariff lines.
3. The detailed Guidelines for Interest Subvention for Pre- and Post- Shipment Export Credit are enclosed at Annexure-I. The positive list of eligible HSN six-digit tariff lines is enclosed at Annexure-II. The procedure for online filing of intent by eligible MSME exporters on the DGFT portal, including step-by-step application requirements, is enclosed at Annexure-III.
4. Pilot Roll-out and Stakeholder Consultation
The component is being implemented on a pilot basis to enable early access for exporters and to facilitate stakeholder feedback. In terms of paragraph 1.07A of the Foreign Trade Policy (FTP) 2023, the enclosed Guidelines are also being issued for stakeholder consultation. Accordingly, all concerned stakeholders are invited to submit comments and suggestions on the draft Guidelines within 30 days from the date of issuance of this Trade Notice at epm-dgft@gov.in.
5. The consultation process shall run concurrently with the pilot implementation. Feedback received from stakeholders, along with operational learnings from the pilot phase, shall be examined in a structured manner. Based on the same, the Guidelines shall be suitably refined and thereafter formalised through appropriate notifications under the FTP/HBP framework.
This Trade Notice is issued with the approval of the Competent Authority.
Deputy Director General of Foreign Trade
(Issued from F.No. 01/02/48/AM-26/EPM)
